Company updates

Emeco – weak FY15 result and increasing credit pressure

Emeco’s FY15 result reflects the challenging conditions faced in mining equipment hire sector. While revenues were broadly in line with FY14, EBITDA fell by 36% reflecting increasing margin pressure but also a very weak 1H15 result. Resultant financial leverage (net debt / EBITDA) is up to 9.5 times which is considered very high

Read more