Net profit after tax increased to $38.2 million, including impairment charges of $12.2 million, from $25.7 million in the same period in 2009.
Earnings before interest, tax, depreciation and amortisation were up 27% to $90.1 million, while the EBITDA margin increased to 16.9% from 15.3%.
Sales revenue jumped 15% to $532.5 million, while operating cash flow fell 56% to $36.2 million due to higher working capital levels and tax payments.
Bradken said sales revenue for its Mining Products division increased by 23%, while the sale of crawler systems jumped 133%.
The Engineered Products division boosted sales by 63% to $157.9 million.
The Rail division delivered 684 wagons in the six months, with sales revenue dropping by 26% due to increased competition from Chinese manufacturers.
Sales revenue for the Industrial division was up by 30%, while revenue for the Power & Cement division was down by 24%.
Bradken’s net debt currently stands at $311.3 million.
Despite the weather in Queensland hampering operations this month, the company said the second half of the 2011 financial year should be a period of growth.
Capital expenditure for the full year is expected to be $70 million, while the company is expecting full-year EBITDA growth of 15-20% over the 2010 financial year EBITDA of $167 million.
