31.31%
Operating earnings beat Macquarie's estimates in the first half. The strong western region was offset by softness in the east. The broker believes the company, overall, can deliver strong growth in FY22.
Growth should come from underground rental and new mining services projects commencing in FY22 and tendering levels, the broker notes, remain high. Outperform maintained along with the $1.30 target.
FORECAST
FY21 dividend of
11.10 cents.
FY22 dividend of
14.40 cents.