Aug 22, 2019

Fatality overshadows company reporting

Fatality overshadows company reporting

A shadow hangs over civil, mining and urban development contractor NRW’s full year financial results ending Jun 30.

The fatality on a Central Queensland mine last month headed the announcement by CEO and Managing Director Jules Pemberton.

 “Before addressing the results I wanted to reiterate that the safety and wellbeing of our people remains our highest priority,” Mr Pemberton said.

“It was therefore with great sadness we reported that Jack Gerdes, an excavator operator working for Golding at the Baralaba North Coal Mine in Queensland, was fatally injured on 7 July 2019. 

“The investigations are still ongoing and Golding has and continues to cooperate with the Mines Inspectorate, both onsite and at a corporate level, to support their investigation into the accident.” 

The company is reporting a 49 per cent year on year increase in revenue of $1,126m.

It was not all plain sailing said Mr Pemberton.

“The results were, however, impacted by the impairment of pre-administration balances totaling $33.5 million relating to Gascoyne Resources (ASX: GCY) entering into voluntary administration,” he said.

“NRW continues to work on the project where gold output has improved significantly since the administration process commenced.”

NRW completed its acquisition of RCR Mining Technologies for $10 million during the period said Mr Permberton.

“Our highly successful acquisition of the RCR Mining Technologies business has added to our diversified capability offering, and the services and people are now well integrated with the NRW business,” he said.

“This acquisition forms part of NRW’s strategy to build a broader, through the cycle services business. 2019 also marks NRW’s 25-year anniversary.”

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