SRG : FY17 Result - EPS up 24%, Dividend up 17%

28 August 2017

ASX ANNOUNCEMENT SRG FY17 RESULT: EPS UP 24%, NPBT UP 25%, DIVIDEND UP 17% Highlights

• FY17 Net Profit Before Tax (NPBT) of $11.6M (25% increase from FY16 NPBT of $9.2M)
• Earnings Per Share (EPS) of 12.24 cents per share (cps) compared with FY16 EPS of 9.84 cps (24% increase)
• Record Work in Hand (WIH) of $338M, up from FY16 WIH of 240M (41% increase)
• Strong balance sheet with no net debt. Cash / equivalents of $24.4M as at 30 June 2017, up from $21.9M at end of FY16
• Fully franked final dividend of 4 cps, to bring total FY17 dividends declared to 7 cps (17% higher than FY16)

SRG Limited (ASX: SRG) ("SRG"), a leading complex services company, is pleased to announce that it has released its Annual Report and Appendix 4E for the year ended 30 June 2017.

Key attributes include:

• FY17 NPBT of $11.6M which represents a 25% increase when compared to the FY16 results of $9.2M

• FY17 NPAT of $7.8M, up 26% from $6.2M in FY16

• EPS were up by 24%, ending FY17 at 12.24 cps as compared to 9.84 cps in FY16

• Revenue of $230M in FY17, up 29% from $178M in FY16

• WIH up 41% to a record level of $338M from $240M at the end of FY16

• SRG finished the year with a strong balance sheet, with no net debt. Cash / cash equivalents of $24.4M as at 30 June 2017

• The Directors resolved to pay a final FY17 dividend of 4 cps (fully franked) to bring total dividends declared for FY17 to 7 cps

SRG Managing Director David Macgeorge said, "We are pleased that FY17 saw us increase our Net Profit Before Tax by 25%, our Earnings Per Share by 24% along with increasing our full year final dividend by 17% to 7 cents per share which represents our largest dividend in the past ten years.

In the 2017 financial year we made further progress towards becoming the company we know we can be. We continued to make significant investment in the Development Phase of the business strategy focused on growth, expansion, acquisitions and disciplined execution. This investment was offset by a restructuring of our property portfolio as we continue to balance investing in our future and rewarding shareholders.

As we enter FY18, SRG is well positioned to take another step forward in our push towards the Market Leadership Phase of our strategy."

ENDS

Issued by SRG Limited ABN 57 006 413 574

SRG Limited are an Australian complex services company. Our vision is to make the complex simple for our customers and our mission is to be a leading provider of complex services to the construction and mining industry worldwide.

Founded in Victoria in 1961, the Company commenced trading as BBR Australia Pty Ltd with the first project undertaken to supply and install rock anchors for the Snowy Mountains scheme. Listed in 1987 on the ASX as Structural Systems Limited, the organisation has grown from a small privately owned specialist post-tensioning company to a diverse international contractor in building, civil, mining, products and services. SRG has offices throughout Australia as well as in the Middle East and Hong Kong. In November 2014, Structural Systems Limited became SRG Limited.

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