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Maca Releases Chairman's and MD Address to Shareholders

14 Nov 2019  |  16:46:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Chairman's and MD Address to Shareholders

Maca released 2019 AGM address stating the revenue growth and a continuation of the improved margins achieved in the second half of FY19. Group revenue is forecast to increase by 8% to $720m in FY20, of which over $500m relates to Mining and Crushing. The Company remains financially strong with a net debt position of $82.8m at 30 June 2019 and cash on hand of $59.3m. The Mining Division has seen capital investment of $165m in FY19 - with $121m into the Mining division and $45m into the Crushing division, establishing a platform for growth for the years ahead. The acquisition of Interquip has enabled the Company to establish a Structural, Mechanical and Piping (SMP) business within the mining industry. The works valued at $28 million were completed in September 2019.

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