MARKETS

Healthy half-year for Runge

MINING technology services group Runge believes it is well positioned to manage the current downt...

Staff Reporter
Healthy half-year for Runge

The Brisbane-based group announced today that operating revenue had jumped 32% to $43.7 million for the six months to December 31, due to the successful integration of the GeoGas and ResEval acquisitions and strong organic growth across all regions.

Earnings before interest and tax for the half-year gained 15% to $6.2 million, while the company held net cash of $700,000 at the end of the reporting period.

Runge acting managing director Christian Larsen said strong cashflows, a clear business plan, and a unique suite of products positioned Runge well to manage the current downturn.

“These results clearly demonstrate Runge’s ability to respond quickly to variations in demand for services and technology,” Larsen said.

“We have been able to adapt our business model and seek opportunities in a volatile market.”

Runge will pay an interim fully franked dividend of 2c per share in line with its initial-public-offering prospectus.

Shares in Runge were unchanged at 40c in morning trade.

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