Perenti delivers record financial performance in FY23

Perenti has delivered record FY23 financial results, headlined by record revenue and record underlying earnings. The sustained improvement in financial and operational performance has placed Perenti in a strong financial position, which enabled the announcement in June 2023 of the value accretive acquisition of Australian-based drilling business DDH1, with final completion expected in October 2023.

Mark Norwell, Managing Director & CEO of Perenti, said: “Perenti continues to go from strength to strength, as the foundations we have laid with our 2025 Strategy allow us to deliver excellent operational performance, strong client relationships and disciplined commercial and capital management.

“Year-on-year we delivered significant revenue and earnings improvement as our growth projects continued to progress through their respective ramp-up phases, as our strategy enabled each of our businesses to capitalise on and take full advantage of the improvement to macro-economic conditions, including the ‘end of COVID’ and as we saw continued strength in markets for the metals and minerals we mine on behalf of our clients. Although I would note that various macro-economic challenges still exist, however we are cautiously optimistic.

“Our ~9,000 people have again demonstrated their commitment to continually doing better, every day, for our clients. On behalf of the Board and Group Executive I sincerely thank them for their contribution to the business.

“Perenti is focused on supporting sustainable mining, with our investment in developing mines for the future, and our focus on reducing our own emissions.

“Perenti has a strong track record of delivering value and certainty for all of its stakeholders. As we look to the future, our proposed acquisition of DDH1 will complement and enhance the Perenti business and further cement our diversified global value proposition.”

You can read more about Perenti’s FY23 Annual Results on our Investor Centre.