For the second time this financial year, we are pleased to provide an operational update and deliver an upgrade to our FY23 guidance.

Since the initial guidance revision in November, Perenti has continued positive momentum, securing improvements to commercial conditions across a number of Australian and African projects. In addition, our subsidiary Barminco has been awarded a new contract at Evolution’s Ernest Henry underground gold and copper mine in Queensland as well as secured a variation to expand its work scope at Regis Resources’ Garden Well mine.

As a result of these positive developments, the revised FY23 guidance now puts expected revenue between $2.7 billion and $2.9 billion and EBIT(A) between $230 million and $250 million.

Perenti CEO and Managing Director, Mark Norwell said: “Together, over the last four years, our 9,000 dedicated employees have been unrelenting in delivering on our purpose of creating value and certainty for our stakeholders. Over these four years, by being smarter together and by taking no shortcuts, Perenti has navigated a period of unprecedented uncertainty and, whilst challenges still exist, we are now seeing the significant effort of our people translate into value upside to our shareholders.”

He added, “In addition to generating greater returns in FY23, we are focused on continuing to pursue business and project optimisation initiatives which will facilitate the delivering our 2025 strategy. Our Strategy is designed to drive positive momentum in shareholder value well into the future. Perenti’s outlook is underpinned by our world class Contract Mining Division, and the continued development of our Mining Services and idoba Divisions. Our focus on generating enduring value for our people, clients and communities, will ensure we continue to deliver sustainable returns for our shareholders.”