Revenues increased 76.5% to $257.3 million by the same comparison, while earnings before interest, tax and amortisation were up 8.3% to $16.7 million.

Sedgman managing director Nick Jukes said profit margins were below expectations, but he expects these to improve during the 2011-12 financial year.

With an order book of $619 million at the end of 2010 and another $100 million added in 2011 so far, Segman expects NPAT to fall within a range of $23-26 million for this financial year.

“Strong growth opportunities are emerging in Australia, particularly in our traditional coal markets where we have established an excellent track record, and we remain well positioned to benefit from international opportunities given our established position in key global markets,” Jukes said.

“Sedgman is also building a stronger service offering to the iron ore and metalliferous sectors.”

The Sedgman board has declared a fully franked interim dividend of 3c per share, payable on March 30 based on a record date of March 16.

The dividend reinvestment plan, which was reinstated last year, is also continuing.

Sedgman’s total project pipeline has increased by $1.3 billion in 12 months to $6.8 billion.

The company’s shares are down 20.4% to $1.735 this morning.