It was a strong financial year for MACA, which increased revenue by 1% to $601.4 million on the previous year and earnings by 2.7% to $138.2 million despite the difficulties faced by many in the mining and civil sectors.

The company’s net operating cashflow increased 292% to $136.5 million, resulting in a strong net cash position of $42.3 million at the end of June.

As a result, MACA has announced a fully-franked final dividend of 7.5c, bringing its full year dividend to 14.5c, or 39.5c when accounting for a special 25c dividend paid in September 2014.

The company said the earning demonstrated the strength of its business in what was a challenging year for the wider market but expected revenues to fall in FY16, setting $450 million as a benchmark.

MACA said it had undertaken a number of initiatives to ensure it was well-placed moving forward in a challenging market.

Among these is an expansion into Brazil through a contract secured with Beadell Resources for its Tucano gold project, as well as a letter of intent received from Avanco Resources for its Antas North copper operation after the financial year’s end.

MACA said the expansion would provide it increased geographical presence and experience moving forward in a space outside of iron ore.

The company attributed capital spending of $50.9 million over the financial year to purchases associated with the Tucano contract.

Closer to home, MACA was involved in establishing a contractor collaboration agreement with Atlas Iron and two other contractors, which culminated in the award of a services contract for the Wodgina project.

Elsewhere, the company participated in a share placement with Cassini Resources which assisted in it being awarded preferred contractor status for the Nebo Babel copper project.

MACA commenced work at Wodgina, Tucano, Karara Mining’s Hinge project and Doray Minerals’ Andy Well project over the year, while its operations at Regis Resources’ Duketon operations and Atlas’ Abydos project continued.

In a reflection of the challenges faced by the sector, four MACA contracted projects were closed in the second half of the financial year.

These were Rosslyn Hill Mining’s lead mine, Arrium’s Peculiar Knob iron ore mine; Sinosteel Midwest’s Blue Hills iron ore mine and Kimberley Diamonds’ Ellendale operation.

An impairment of $1.55 million was recorded on trade debtors in the company’s accounts at June 30 after Kimberley subsidiary Kimberley Diamond Company was placed into administration.

Looking forward, MACA has contracted for 85% of the targeted $450 million revenue mark, and said it would continue to identify development opportunities.

The company has work on hand of $1.22 billion and workforce in excess of 1050 people at the end of the financial year.