WDS reported after-tax net profit of $A15.9 million, up 113% from the previous corresponding period, while revenue jumped 105% to $268 million and EBITDA increased 86% to $37.2 million.

The dramatic increases for the six months to December 31 were attributed to organic growth and a five-month contribution from the acquired Delco Energy Australia.

WDS’ construction division kicked in 72% of the group’s revenue.

Walter Mining increased revenue by 32% to $74.5 million, while its EBITDA jumped 53% to $10.2 million.

WDS managing director Gareth Mann said the result was achieved through higher plant utilisation across its fleet.

“The medium-term outlook for our mining division remains strong despite a deteriorating external environment both in terms of the economy and coal production,” Mann said.

“Our outlook for this division is based on our ongoing program of diversification of the services offered to the coal mining industry, for example, equipment engineering, maintenance and development services as well as expansion into adjacent sectors, such as civil tunneling.”

During the first half, Walter Mining completed gate-road development at Peabody Energy’s Metropolitan mine for longwall panel 20 and finished soft-tunnel drivage for Vale’s Carborough Downs mine expansion using its AM105 roadheader.

The division also successfully entered the coal-handling preparation-plant maintenance area with its Central West Engineering subsidiary providing support at Xstrata’s Ulan mine, Peabody’s Wilpingjong mine and Centennial Coal’s Clarence Colliery.

Work is also continuing at NRE Wonga’s mains project and North Goonyella’s secondary support project.

Walter Mining has also opened a workshop in the Hunter Valley, expanding its mine-equipment engineering capability.

Walter Mining expects 2009 financial year EBITDA to be 30% above FY2008 levels on the back of greater plant utilisation. All its continuous miners will be at work during the period.

The mining division currently holds $83 million in work, plus $50 million of high probability work for the 2010 financial year.

The work includes extension of the Metropolitan development contract, potential expansion of the Integra Mine to include outbye services, continued outbye services at Xstrata’s Oaky Creek complex, access drivage at Newcrest’s Cadia mine, and continued work at North Goonyella and NRE Illawarra mines.

“However, despite the positive outlook for the mining division, it is clear that the combination of economic conditions, slowing coal demand and constraints on capital are having an effect on clients’ forward view of projects,” the company said.

Overall, WDS expects second-half 2009 results to be lower than the first half as two major pipeline projects are completed by Delco.

Currently WDS has $353 million work in hand and a $4 billion in current or near-term targeted bid activity.

The company has $149 million in secured work attributable to financial year 2010.

“Despite the challenging conditions, the fact WDS has diverse operations across a broad spectrum of industries including energy, coal mining and infrastructure means that, whilst we are not immune from the current economic environment, we are in a strong position to manage these challenges,” Mann said.

WDS was tading up 9.6% mid-morning today at 80 cents.