The construction and engineering firm today reported a net loss after tax of A$6.26 million for the first half of this financial year which compared with a $1.47 million loss over the same period last year.
It had a net cash position of $18.9 million, which compared to $17.9 million it posted in the same six months a year ago.
Decmil's revenue of $140.8 million in the first half was also comparable to the $141.7 million from the first half of last financial year.
The resources division provided 65% of the revenue total and infrastructure 34%.
Decmil's renewables division accounted for just 1% of the revenue total, though it said solar and wind would be among its key growth drivers for the remainder of the year and through to the next financial year.
The company's EBITDBA from continuing operations was $1.3 million and it recorded net tangible assets of $129.8 million.
Highlights during the period including completion of the Gullen solar project near Goulburn in New South Wales and a memorandum of understanding for a $275 million engineering, procurement and construction contract with Maoneng Australia in relation to its Sunraysia solar farm.
Decmil has forecast strong revenue growth in the second half of the year and upwards of $500 million in revenue during the following financial year, based on its recent contract wins.
The 2019 prediction includes works associated with major planned maintenance cycles at the Gladstone LNG project and better LNG market conditions overall.
Highlights during the first half of 2018 also included completion and commissioning of projects in the Western Australian mining sector.
Decmil said it had consolidated its focus on the infrastructure, resources and renewable energy sectors and achieved greater operational consistency across regional business units in Australia and New Zealand.
Managing director and CEO Scott Criddle said the company had seen improvement in all of its key sectors and had enjoyed a strong start to the 2018 financial year through larger contract wins and consolidation of operations.
"We have also focused on the commercial and operational performance of our key projects and overhead control to set the business up to improve margins going into FY19," Criddle said.
