The company, a supplier of consumable and capital products to the resource industry, also forecast earnings before interest, taxes, depreciation and amortisation for the 2012 financial year to spike by 25-30% over the previous period.

The forecast figures come as Bradken reports NPAT after minority items for 2011 of $A87.1 million, up 24% on the previous year’s $70.4 million, and EBITDA of $196.1 million, a 17% improvement from 2010.

“Bradken’s business strategies remain unchanged, with the focus on key strengths in the design, manufacture and supply of consumable products to mining, energy and rail industries,” managing director Brian Hodges said.

Hodges said Bradken would continue to exploit opportunities in the resources and energy market in order to grow the company.

Sales revenue from the mining products division for 2011 was up 33% to $492.9 million from the 2010 financial year as mining production levels recovered.

The rail division sales revenue, however, was down by 34% at $222.6 million compared to the 2010 financial year.

Bradken said the dip was mainly caused by reduced market pricing due to competition from China.

The company’s US-based engineering products division rebounded strongly with sales for the 2011 financial year totalling $346.1 million, a 61% increase on the previous corresponding year on the back of strong growth in mining, locomotive and energy markets.

“The Bradken Edmonton acquisition in July 2010, [also] boosted sales in the US resource business,” the company said.

The industrial division’s sales revenue was a 28% improvement for the 2011 financial year at $80.6 million, as demand from Australian equipment manufacturers increased.

Bradken said despite figures improving, it was still lower than the mining products business which indicated a continuing drift to offshore manufacturing.

The company’s operating cash flow for the 2011 financial year was $32.4 million, 78% lower compared to the previous corresponding period, due to higher working capital and higher interest and tax payments.

“Higher working capital levels reflect increased activity in the majority of Bradken’s businesses,” the company said.

Capital expenditure for Bradken was $59.8 million, compared to $35.3 million from the previous corresponding period.

The company reduced its net debt levels to $231.6 million, down from the $250.7 million recorded in the 2010 financial year, on the back of an equity raising completed in June.

Directors also declared a fully franked final dividend of 39.5c per share, an increase of 16% compared to the 2010 shareholder payout.