Monadelphous Group shares (ASX: MND) jumped sharply today, hitting a new high at A$25.08 after the company released an updated revenue forecast projecting substantial growth. The announcement signals a positive outlook for the engineering and construction services provider.
The Monadelphous share price closed 11% higher at A$25 following the trading update.
Monadelphous anticipates approximately $1.5 billion in revenue for the first half of FY26, driven by robust operating conditions across its business segments. The company also expects full-year FY26 revenue to be 20–25% higher than the prior year. Since the start of FY26, Monadelphous has secured more than $570 million in new contracts, underscoring strong demand for its engineering construction and maintenance services.
A key element of Monadelphous’s growth strategy is its acquisition of Kerman Contracting, a Western Australian-based company that will broaden its service capabilities in non-process infrastructure design and construction. This move aligns with the company’s aim to expand into new markets. This builds upon the FY25 result where Monadelphous reported a 12% increase in revenue to AUD 2.27 billion and a 34.6% rise in net profit after tax to AUD 83.7 million.
The company has credited elevated activity levels in the first four months of FY26 to a record amount of work secured in FY25 and sustained demand for both engineering construction and brownfields services. Subsidiaries Melchor and Inteforge have also contributed by strengthening vertically integrated project delivery.
Top Australian Brokers
- Pepperstone - Top Australian broker - Read our review
- eToro - Invest in ASX and international shares - Read our review
While Monadelphous expects operating activity to moderate in the second half of FY26, revenue is projected to remain significantly above last year’s levels. The company will prioritize integrating recent acquisitions and ensuring the safe and efficient delivery of its contracted work.
With the MND share price having added 78.44% YTD, the latest update has only added fuel to the bulls’ fire. You would have to look back more than a decade to find the last time the stock managed to hit these levels, but momentum is clearly with the name. In closing at A$25, gains have hit 100.96% on the 1 year, for a double up.
