Market Herald logo


Be the first with the news that moves the market
  • Lycopodium’s share price has dropped today after the company announced its revenue and profits for 2019
  • Revenue for the 2019 came in at $154 million — 20.9 per cent down in 2018
  • Profit after tax ended the year at $16.51 million; down 9.14 per cent on last year.
  • The company did, however, end the year with a Lost Time Injury Frequency Rate (LTIFR) of zero for all 4.1 million man-hours worked across Lycopodium projects

Lycopodium shares are trying to claw their way back into the green after taking a hit today following the release of the company’s 2019 financial year report.

Shares stayed fairly steady until just after midday AEST when they suffered a 3.39 per cent drop to $5.70 each. As it stands at 3:30pm AEST, Lycopodium’s share price is slowly rising back, worth $5.78 apiece — 2.03 per cent down on yesterday’s close.

The reduced share price comes after the release of the management consultant company’s annual report. Lycopodium certainly didn’t have a weak year, but the numbers in the report were not quite up to last year’s standards.

Revenue for the 2019 financial year came in at $154 million — 20.9 per cent down in 2018. Profit after tax fared slightly better but still came in at $16.51 million, which is 9.14 per cent down on last year.

Similarly, profits before tax were 6.92 per cent down, finishing the year at $23.54 million compared to $25.29 million in 2018.

The company proudly reported to shareholders, however, that it ended the year with a Lost Time Injury Frequency Rate (LTIFR) of zero for all 4.1 million man-hours worked across Lycopodium projects. For comparison, the average LTIFR for the Australian construction industry is 8.1.

Lycopodium works with clients to develop and implement engineering solutions for a variety of projects. The company’s solutions include feasibility phases to the completion of design, construction, commissioning, and handover, as well as engineering and maintenance services.

Over the 2019 financial year, Lycopodium delivered a major West African Greenfield gold project, called the Ity Project. It also designed and installed a modular final recovery plant on the Montepuez Ruby Mine in Mozambique.

These achievements were among several other advancements and contracts landed for various projects over the course of the year.

Looking ahead, Lycopodium told shareholders it is expecting to bring in $220 million in revenue for the 2020 financial year, with earnings generally in line with what the company brought in during 2019.

LYL by the numbers
More From The Market Herald

" WestStar Industrial (ASX:WSI) banks record cash receipts in Q4

WestStar Industrial (ASX:WSI) banks a record $59.2 million in cash receipts for the December 2021 quarter.
EVZ (ASX:EVZ) - CEO, Scott Farthing

" EVZ’s (ASX:EVZ) Brockman Engineering secures LOI for $40m storage tanks project

EVZ’s (ASX:EVZ) wholly-owned subsidiary Brockman Engineering has secured a Letter of Intent (LOI) from Viva Energy.
Decmil (ASX:DCG) - MD and CEO, Dickie Dique

" Decmil Group (ASX:DCG) secures $18m contract

Decmil Group (ASX:DCG) secures an $18.1 million contract to construct a new Port Hedland Community Centre…
Kleos Space (ASX:KSS)- CEO, Andy Bowyer

" Kleos Space (ASX:KSS) reschedules Patrol Mission satellites launch

Kleos Space SA (ASX:KSS) reschedules its Kleos Patrol Mission satellites launch date to April this year.