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Company Information

Company at a Glance

Industry:
Construction & Engineering
Fiscal Year-End:
Jun 10

Company Overview

MAH is an engineering construction and contract mining company, with operations in Australia, New Zealand and Malaysia. MAH consists of two business units, Mining and Construction. Mining provides a total service for surface and underground operations. Its main activities include surface and underground mining; civil engineering; quarrying and processing; and equipment hire. Construction undertakes infrastructure projects, including roads, bridges, railroads, ports and dams.

Company History

Macmahon Holdings was founded by Brian Macmahon in 1963 as a civil engineering specialist. Contract mining operations were commenced in 1970. In 1978, MAH constructed the Alice Springs to Tarcoola railway. MAH listed on the ASX on 1 December 1983. MAH acquired FK Kanny & Sons in 1987 and National Mine Management Pty Ltd in 1994. Operations in Malaysia also commenced in 1994. MAH established Australian Mine Management in 1996. MAH acquired a 60% interest in MVM Rail Pty Ltd in 2006.

Industries Of Operation

MAH operates within the Construction and Engineering Sector. Companies operating within this sector provide specialist contract services to companies and undertake engineering/construction projects. MAH provides services to the infrastructure and resources sector. MAH's services also span the transport, water and rail sectors.

Differentiating Factor

MAH is a large-scale contractor, with extensive experience in surface mining, underground mining and major construction projects. MAH projects are significant to Australian history and culture. MAH has won awards for a number of its projects. MAH won three awards for the construction on the North Dandalup Dam. The Alice Springs to Darwin railway project won the Australian Construction Achievement Award 2004.

Major Customers & Competitors

MAH's major customers are government authorities and mining companies, including BHP Billiton and Rio Tinto. Other private customers include construction and rail contractors, including Asia Pacific Transport. Major competitors include United Group, Leighton Holdings and Clough.

Research provided by  

Market Statistics

Market Cap ($M):
432.9
Equiv. Shares (M):
733.7
% All Ords:
0.04
12Mth Range ($):
0.38 - 0.89
Turnover ($M pa):
775.7
Index:
S&P/ASX 200
Sector:
Industrials
Industry Group:
Capital Goods
Industry:
Construction & Engineering
Sub Industry:
Construction & Engineering

Last 5 Market Sensitive Announcements

Date
Announcment
30-Jun-10 11:56
Extension of Rail Contract
29-Jun-10 09:16
Macmahon reaffirms 2010 profit guidance
22-Jun-10 11:35
Macmahon awarded contract extension at Waihi Gold Mine
19-May-10 14:10
Macmahon announces new A$240 million funding facility
04-May-10 10:44
Macmahon awarded $150M contract extension at Eaglefield

Calendar Of Events

Date
Event
12-Apr-10
Dividend Date Payable for Half Yearly Result (1.5c 0% franked)
19-Mar-10
Dividend Record Date for Half Yearly Result (1.5c 0% franked)
15-Mar-10
Dividend Ex-Dividend Date for Half Yearly Result (1.5c 0% franked)
27-Nov-09
AGM Date for Final Year Result
19-Aug-09
Reporting Date for Final Year Result

Directors

Name
Position
R Carter
Chairman
N Bowen
Managing Director
B Cusack
Director
B Ford
Director
J Massey
Director
V Vella
Non-Executive Director
K MacKenzie
Non-Executive Director

Management

Name
Position
N Bowen
CEO

Substantial Shareholders

Name
% Holding
The Trust Company
20.4
Leighton Holdings
18.6
Barclays Global Investors Australia Limited
7.6

Consensus Recommendation Summary


0
0
4
1
2
Sell Under Perf. Hold Out Perf. Buy

Number of Brokers in Recommendation Summary: 7

Consensus Earnings

FY10 FY11
Consensus EPS1 (c) 5.2 5.7
EPS Growth (%)   10.0
P/E Ratio (x) 11.4 10.4
P/E Rel. All Ords (x) 1.02 n/a
P/E Rel. Sector (x) n/a n/a
Number of Brokers in Earnings Survey: 6 6

1. Consensus EPS is generally "reported EPS" but will vary as to whether it is on a pre or post preference earnings basis. This number is not always on the same basis as the Aegis EPS.

Historical Forecast Earnings And Recommendations

Consensus Recommendations

Consensus information provided by Reuters.

Consensus EPS Forecasts 1

1. Consensus EPS is generally "reported EPS" but will vary as to whether it is on a pre or post preference earnings basis. This number is not always on the same basis as the Aegis EPS.

Peer Recommendation Comparison

  P/E (x) EPS Chg (%) Dividend Yield (%) MktCap ($M) Price ($) Consensus Rec
  09A 09A 09A    
Leighton Holdings 11.4 (3.5) 4.9 8,867.3 29.49 Out Perf.
UGL Limited 11.4 8.4 6.2 2,339.6 14.10 Out Perf.
Boart Longyear >99 (97.5) 0.0 1,411.2 3.06 Out Perf.
Monadelphous 13.8 11.8 6.2 1,171.5 13.55 Out Perf.
Macmahon Holdings 11.1 (65.1) 4.4 432.9 0.59 Out Perf.

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