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Service Stream Provides HY2019 Results Presentation

06 Feb 2019  |  16:32:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Service Stream HY2019 Results Presentation

Service Stream provided HY2019 results presentation stating that the 1H19 EBITDA from Operations was $38.6m, up 21% on 1H18; 1H19 NPATA was $25.1m, up 22% on 1H18. The acquisition of Comdain Infrastructure was completed on 2-Jan-19, delivering scale, expanded service offerings and increased annuity-style revenue to the Group. The future Group revenues are expected to reflect an 55%:45% split between telecommunications and utility related operations. The Group's balance sheet remained strong with Net Cash of $69.5m at 31-Dec-18 underpinning its ability to subsequently complete the Comdain Infrastructure acquisition with a mix of cash, debt and scrip. Board also declared an increased interim dividend of 3.50 cps payable on 21-Mar-19 and has aapproved a new DRP.

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