Revenue is expected to be in the range of $267 million to $270 million for the year to June 2012 as the company focuses on consolidating in preparation for FY2013.

“We did say in our prospectus that we would double the size of the business at the time of listing in three to five years and we have now done that in two years,” Caruso told ILN.

“This year’s result again exceeds what the market was expecting and the analysts’ consensus. It was a strong performance for Mastermyne and completes another another year of solid top line growth (60% up from last financial year). The business has also invested in key management people during the year and has set up for further growth in 2013 and beyond.”

Caruso said that he was pleased with the strong second half performance and that the company will continue to grow in FY2013 on the back of the strong order book and tender pipeline which was continuing to grow substantially.

Organic growth on Mastermyne’s existing projects underpinned an increase in revenue in FY2012.

In its half-yearly presentation, the company said its margins are in line with budget forecast.

Top line growth had been a result of expanded scopes requiring additional labour and equipment. Consolidation of operations in the first half provided time to refine and embed operating systems and recruit key roles, the company said.

Mastermyne also built the capability of its management team in preparation for new projects in FY2013. A technical services role has been introduced to the management to add additional strength across the operations.

The capex requirements for 2013 are being addressed and commitments made accordingly, according to the company.