LogiCamms (LCM)
Trevor Hoey
LogiCamms provides electrical engineering and controls systems to the infrastructure, energy and utilities sectors. The company's interim profit of $1.62 million represented a 97 per cent increase compared with the previous corresponding period. The result was in line with LogiCamms' internal budget, and management expects a stronger performance in the second half. This would equate to earnings per share of more than 9¢, representing a price-earnings ratio of about 4. LogiCamms has completed work in the Pilbara region for large companies like BHP Billiton and Rio Tinto. It has been specialising in iron ore and coal services for 14 years, and this has helped it to cash in on mining activity in Queensland and Western Australia. But management is also enthusiastic about opportunities that are emerging in central Australia. In February, the company was awarded a contract to provide electrical and control design and construction works for the Adelaide Desalination Transfer Pipeline System. This was LogiCamms' second success in the water sector in recent months. LogiCamms said on Tuesday that it was in merger negotiations with two companies that could potentially boost annual revenues by $15 million.
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