The Group is an ASX200 diversified global mining services group headquartered in Australia.
From our meagre beginning as a one-drill operation in Kalgoorlie, the Group has become one of the largest diversified global mining services companies.
The Group has built a portfolio of companies designed to provide a complete mining value chain throughout Australia, Africa and around the world.
Perenti has delivered
a strong result in HY20, with the Company on track to meet its most recent FY20
earnings guidance. Perenti Managing Director Mark Norwell said the HY20 results
demonstrated the diversity and resilience of the expanded Group.
“At a Group level our
underlying earnings were strong, which was an impressive achievement, given the
challenges in African Mining Services (AMS), demonstrating the breadth of
Perenti’s portfolio,” Mr Norwell said.
underground mining business, across Australia and Africa, performed exceptionally
well, with earnings growing by more than one-third over the prior corresponding
period as we successfully integrated Barminco into the Perenti group.
“Meanwhile, in our
surface mining business, our Ausdrill operations in Australia performed in line
with expectations but our AMS operations in Africa delivered an unsatisfactory
result that impacted Group earnings.
“A key focus of our
2025 Group strategy has been on the transformation of AMS, with a range of
initiatives underway including enhanced earnings, cash conversion, and
efficient capital management.
“In addition to the
AMS transformation initiative, a strategic review of AMS has now commenced that
will thoroughly assess the business more broadly.
“In November, 19 of our employees tragically lost their lives and a further 26 were injured as a result of an unprecedented terrorist attack in Burkina Faso. In response, we reassessed where and how we operate, with Perenti ceasing operations in Burkina Faso’s higher risk locations given the current security situation. We also continue to do everything possible to ensure that all injured employees, work colleagues and impacted families are receiving the best possible care and support.”
To see the full FY20 H1 results please visit the Investor Section of our website.