Engineering contractor Monadelphous Group has announced a 6.3 per cent fall in full-year profit to $146.5 million on softening activity in the mining and minerals sector.
Monadelphous Group has sold its aviation support services business Skystar for $10 million as it looks to implement a wide-ranging cost reduction and restructuring program.
Monadelphous Group says it will accelerate efforts to expand further into the oil and gas and infrastructure markets amid the slowing minerals sector, as it posts a record interim net profit.
