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Perenti delivers on transformational year, forecasts growth in FY20

Diversified mining services company Ausdrill Limited trading as Perenti Global (ASX: ASL) (Perenti) has delivered a strong result, outperforming earnings guidance for the third consecutive year whilst successfully completing the acquisition of underground mining contractor Barminco that has transformed the business.

Perenti Managing Director and CEO Mark Norwell said the FY19 results demonstrated the scale of the Group’s transformation during the year.

“This strong result demonstrates our ability to continue to deliver for our clients in the year whilst ensuring we successfully integrated the Barminco business,” Mr Norwell said.

“We have evolved from an Australian drilling business into a global mining services company, with a workforce of more than 8,000 people working at more than 50 projects across four continents.

“We have used this transformational year to build on our proud heritage by establishing a new operating model and implementing the 2025 Group strategy, with our aspiration to become the indispensable mining services company.

“Our recent group rebrand to Perenti gives us a strong and identifiable brand in the market and a platform to grow our business in the future while the evolution of our tagline to Expect More supports our aspiration and purpose, underling our commitment to deliver for all our stakeholders.

“With a strong balance sheet and an order book that has grown to $7.0 billion after securing $3.4 billion in new and extended contracts since 1 July 2018, Perenti is well positioned for growth in FY20.”

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