Mitchell Services Reports Strong FY24 Performance and Future Growth Plans

Mitchell Services Limited (AU:MSV) has released an update.

Mitchell Services Limited has made significant strides in FY24, reducing net debt from $40 million to $1.9 million while paying $13 million in dividends and $5 million in share buybacks, attributed to a robust capital management strategy. The company also reported a strong financial performance, with net profits rising to $9.2 million and earnings per share increasing to 4.3 cents. As it enters FY25 with a solid balance sheet, Mitchell Services plans to focus on sustainable growth, optimizing shareholder returns, and expanding into the decarbonisation market through its joint venture, Loop.

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