Ireland's Mincon H1 revenue rises on construction growth
Ireland's Mincon H1 revenue rises on construction growth
Overview
Ireland's rock drilling tools maker reported H1 revenue up 19% yr/yr to €87.8 mln
Net profit for H1 jumped to €6.8 mln from €0.7 mln a year earlier
Company completed Perth property sale, using €8 mln proceeds to reduce debt
Outlook
Mincon expects continued growth in profitability over the remainder of 2026
Company sees market opportunities developing across construction and mining
Company expects working capital demands to ease as secured projects are delivered
Result Drivers
CONSTRUCTION GROWTH - Revenue growth was led by a 23% increase in construction, particularly in North America, supported by a large project
MINING RECOVERY - Mining revenue rose 18% after a prior-year decline, with gains attributed to improved product offering and customer service
MARGIN RECOVERY - Margin improvement driven by operational efficiencies and higher in-house manufacturing, offsetting increased tungsten carbide costs
Company press release: ID:nRSD8173Oa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue from Cont Ops |
| EUR 87.80 mln |
|
H1 Net Income from Cont Ops |
| EUR 6.80 mln |
|
H1 EBITDA from Cont Ops |
| EUR 13.80 mln |
|
H1 Gross Profit from Cont Ops |
| EUR 26.80 mln |
|
H1 Operating Income from Cont Ops |
| EUR 9.30 mln |
|
H1 Pretax Profit from Cont Ops |
| EUR 8.98 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the industrial machinery & equipment peer group is "buy"
Wall Street's median 12-month price target for Mincon Group PLC is €0.82, about 24.2% above its August 3 closing price of €0.66
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 19 three months ago
Reuters Recommended Reads
Aug 3 - UK's CNH Industrial tops Q2 revenue and profit estimates
Aug 3 - UK engineering group Senior's H1 adjusted pretax profit rises 38%
Aug 3 - Alamo Group Q2 sales beat estimates on organic demand growth in industrial equipment
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)