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Macmahon rebound gathers steam

Macmahon Holdings CEO Michael Finnegan says the company proved sceptics wrong with its strong FY18 operating and financial results and could really surprise with its gains over the next three years. “With [our current] order book and pipeline we’re in a pretty good position and the key is making sure no one gets ahead of themselves and cocky,” he told Mining Journal on the sidelines of Macmahon’s 55th annual general meeting.

Macmahon rebound gathers steam Macmahon rebound gathers steam Macmahon rebound gathers steam Macmahon rebound gathers steam Macmahon rebound gathers steam

Michael Finnegan (centre): "We have delivered on our promise, and we expect further growth in FY19"

Plenty of contractors did just that during the last big mining investment upswing - growing too fast, and often too far from home, on margins that were too thin and balance sheets that got too stressed - and Macmahon was one of them.

Its share price (ASX: MAH) got down to A4c in April, 2015, and is now around 26c, capitalising the company at A$550 million.

The company was nearly swallowed up by Spanish-controlled CIMIC with ...