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The company’s shares soared 13.7% to 58c on the news.
The contractor already updated its guidance from between $160 million to $180 million for 2017-18 to between $165 million and $185 million. Guidance for earnings before interest tax depreciation and amortisation remains at between $10-$12 million.
Mastermyne managing director Tony Caruso said trading conditions kept getting better, which would result in revenue returning to previous levels.
“We continue to experience improved trading conditions across our business and we are very pleased to have strengthened the company’s order book further by securing another multi-year contract,” he said.
“Our focus now is to execute well and improve margins across the business.”
With the recent contract wins the company is focused on recruitment and preparing equipment for the mobilisation of the new contracts including development at Whitehaven Coal’s Narrabri longwall mine.
“The company is structured to manage the additional revenue without increasing overheads enabling the business to leverage stronger EBITDA margins from the new revenue,” Mastermyne said.
