AusGroup said profit after tax for the first quarter of FY2013 (1Q FY2013) slightly more than doubled to A$6.3 million ($8 million) from A$3.1 million a year ago (1Q FY2012).
Revenue for the quarter increased by 25.9% to A$155.9 million from A$123.8 million mainly due to higher activity levels in both the Major Projects and Fabrication segments.
AusGroup said despite the softening of commodity markets, the longer term outlook for the Australian resources sector in the Western Australian, Northern Territory and Queensland markets in oil and gas, LNG, coal seam methane and in iron ore mine development continues to be positive.
The group is confident of seeing sustained demand for its services over the next few years due to the range of services the group can offer in these markets as a multidisciplinary contractor.
AusGroup also has work in hand to the value of A$303 million as of Nov 8.
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