Monadelphous profit slips 24%

Engineering services firm Monadelphous has posted a 24 per cent decline in half year net profit to $28.57 million.

Engineering services firm Monadelphous Group has recorded a 24 per cent fall in first-half profit as reduced spending and activity by mining and energy customers put pressure on its margins.

Monadelphous said net profit for the six months to December 31 fell to $28.57 million, while revenue was down 15 per cent to $627.1 million.

The company has declared a fully franked interim dividend of 24 cents a share, down four cents from the same period last year.