Business
Why the Decmil (ASX:DCG) share price jumped 9% today
The Decmil Group Limited (ASX: DCG) share price was on form on Wednesday.
At one stage, the engineering company’s shares were up as much as 9% to 60 cents.
The Decmil share price eventually closed the day 7% higher at 59 cents.
Why did the Decmil share price zoom higher?
Investors were buying Decmil shares on Wednesday following the release of its half year results. Those results revealed a big improvement in its profitability despite softer revenues.
For the six months ended 31 December, the company reported a 30% decline in revenue to $165.1 million.
However, earnings before interest, tax, depreciation and amortisation (EBITDA) came in at $5.6 million. This compares to an EBITDA loss of $19.9 million a year earlier.
It was a…
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