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Strong 2H Profit For Australia’s Emeco

Feb 23, 2007 5:05 PM

Australian heavy equipment rental company Emeco Holdings doubled its first-half profit with a net profit of AU $16.1 million (about U.S. $12.7 million), a 66-percent increase on the previous figure of AU $9.7 million. Earnings before interest and taxes were AU $ 59.4 million (U.S. $47 million), 74.7 percent higher than the previous AU $34 million.

Emeco managing director Laurie Freedman predicted strong conditions ahead because of demand for commodities.

Revenue was $251.6 million (U.S. $199.2 million), up 45.3 percent from the previous $173.1 million.

Based in Perth, Australia, Emeco Holdings has a North American division based in Houston, ranked No. 76 on the RER 100.

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