A Decade of Continuous Growth
Despite the challenges brought about by low oil prices, 2014 was a
satisfactory year for Mencast. Revenue and net profit grew 32% and 13%
to record highs of $130.6 million and $18.2 million respectively. This
marks a decade of consecutive double digit growth in these key earnings
metrics.
Turning Acquisitions into Sustainable Growth Drivers
The 8 acquisitions made since our IPO in 2008 have been the primary
driver of the 5.2 times increase in Group revenue since that date. To build
Mencast into a diversified Group with multiple sources of growth, we are
intensely focussed on transforming the inorganic growth from past
acquisitions into sustainable sources of future growth.
This transformation is progressing well. The 32% top-line growth
achieved during the year was principally driven by acquisitions outside of
our traditional marine services segment with revenue from our Offshore
& Engineering and Energy Services segments growing by 49% and 64%
respectively during the year.
5
Mencast Holdings Ltd
| Annual Report 2014
CHAIRMAN’S
MESSAGE
This has been
successful and our
top-line grew by a
healthy 32% in
FY2014 despite
challenging market
conditions.
FY2014
FY2013
33%
MARINE
SEGMENT
42%
MARINE
SEGMENT
REVENUE
56%
OFFSHORE &
ENGINEERING
SEGMENT
11%
ENERGY
SERVICES
SEGMENT
49%
OFFSHORE &
ENGINEERING
SEGMENT
9%
ENERGY
SERVICES
SEGMENT
