Mincon Grp Share News (MCON)

Mincon says disruption in mining industry hurts profit and revenue

(Alliance News) - Mincon Group PLC on Monday reported a drop in its full-year profit and revenue but noted an improvement in its order book going into 2024.

UK earnings, trading statements calendar - next 7 days

Mincon shares rise as annual earnings expected ahead of forecasts

(Alliance News) - Mincon Group PLC on Tuesday said 2023 earnings will be higher than originally expected, but lower than a year ago.

IN BRIEF: Mincon expects to deliver lower full-year earnings

Mincon Group PLC - Shannon, Ireland-based rock drilling tool manufacturer - Says group revenues "contracted further" in the past quarter to September 30. For the first nine months of the year, says revenue is 7% lower than in the same period in 2022. Cites decline in its sales in the mining industry, noting a "particular weakness" in Africa. Adds two large scale construction projects that were due to start in the beginning of the final quarter will no longer go ahead. Sees single-digit growth in the water well and geothermal industry. Says it has made "progress" in inventory reduction programme. Looking ahead, it expects to deliver full-year earnings before interest, tax, depreciation and amortisation of approximately EUR20 million, down 27% from EUR27.5 million a year prior.

Mincon reports interim profit and revenue fall in "challenging period"

(Alliance News) - Mincon Group PLC on Tuesday reported a fall in revenue and pretax profit in a difficult half year, with a slow-down of mining revenue preventing growth.

Mincon promotes Tom Purcell to operating chief with immediate effect

(Alliance News) - Mincon Group PLC on Tuesday said it has appointed long-serving director Tom Purcell as chief operations officer with immediate effect.

TRADING UPDATES: Cohort hails subsidiary's deal; Treatt profit down

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

UK shareholder meetings calendar - next 7 days

IN BRIEF: Mincon achieves rises in both annual revenue and profit

Mincon Group PLC - Shannon, Ireland-based rock drilling tool manufacturer - Posts revenue of EUR180 million for 2022, up 25% from EUR144 million in 2021. Says its construction segment delivered strong growth levels with revenues up 45% on 2021 to EUR61.8 million as a result of a "particularly strong performance in North America where our direct to market approach for mid-to-large projects delivered some excellent contract wins". Pretax profit is EUR18.7 million, up 3.1% from EUR17.8 million, as operating profit rises to EUR19.7 million from EUR18.1 million. Earnings before interest, tax, depreciation and amortisation amounts to EUR27.5 million, up 9% from EUR25.2 million in 2021. Declares a final dividend of 1.05 cents per share, taking the total dividend for 2022 to 2.10c per share, unchanged year-on-year.

IN BRIEF: Mincon sees further revenue growth in third quarter

Mincon Group PLC - Shannon, Ireland-based rock drilling tool manufacturer - Says the "very strong" revenue growth reported in its half-year results has continued in the past quarter to September 30. For the first nine months of the year, revenue is 25% ahead of 2021. Cites currency tailwinds, price increases and some contribution from acquisitions for the growth. Notes that the construction industry has experienced the highest level of growth. During the quarter, Mincon says it has made "significant" progress in reducing its order backlog. This, Mincon explains, will help reduce air freight from its factories to its customer centres in the final quarter. Firm is also "positive" about achieving an improved margin percentage in the second half of the year.

LONDON MARKET CLOSE: Miners, oil majors and defence shield FTSE 100

(Alliance News) - A resilient FTSE 100 grew in confidence and edged marginally higher on Monday, though European peers struggled, in a downbeat session dominated by energy supply worries on the continent.

Mincon shares rise on first commercial Greenhammer contract

(Alliance News) - Mincon Group PLC shares jumped on Monday as it signed its first commercial contract for its Greenhammer system.

Mincon reports growth across all industries despite increased costs

(Alliance News) - Mincon Group PLC on Monday reported revenue growth across all its three industries, leading to a rise in profit despite higher costs and inflationary pressures.

IN BRIEF: Mincon expects "significant" growth moving forward

Mincon Group PLC - County Clare, Ireland-based rock drilling tool manufacturer - Says the positive momentum seen in the second half of 2021 has continued into the first quarter of 2022. Momentum driven by strong underlying demand for its products across the Construction, Mining and Waterwell/Geothermal sectors, company explains. Expects "significant" growth in its three industries against the first quarter moving forward.

Mincon revenues grow in Q1

(Sharecast News) - Irish engineering group Mincon said on Monday that positive revenue momentum experienced in the second half of 2021 had carried over into the first quarter of 2022.