Shipbuilder Austal has increased shareholder payout after announcing a two per cent lift in first-half profit on its expanding US Navy and commercial ferry work.
Net profit for the six months to December 31 came in at $23.7 million and revenue was up 31 per cent to $851.5 million, with contracts for four more US Navy ships secured during the period.
Chief executive David Singleton said significant growth across its US support business had further buoyed the result.
"With a record $5.2 billion order book, Austal has secured work out to 2025 that provides a strong foundation to grow the business further," Mr Singleton said.
"We are also seeing the benefit of a lower exchange rate that is enhancing our revenue and earnings in Australian dollars, whilst making Austal more competitive in winning new commercial vessels and defence exports."
The company will pay an interim dividend of three cents per share, fully franked, up one cent from a year ago.
Austal also flagged it has added additional security layers to its IT system following a data breach by an unknown offender in November.
The matter was referred to the Australian Cyber Security Centre and the Australian Federal Police with no evidence to suggest the theft of information affecting national security or the commercial operations of the company.
Austal reaffirmed its $1.9 billion full-year revenue outlook, which was updated earlier in the month.
US CONTRACTS BUOY AUSTAL HY PROFIT
* Net profit up 2pct to $23.7m
* Revenue up 31pct to $851.5m
* Interim dividend three cents per share, fully franked, up one cent from a year ago
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