PWR Holdings Limited’s (PWH) EBITDA (earnings before interest, tax, depreciation, and amortisation) for the first half of the 2024 fiscal year climbed 27.2 percent relative to the corresponding period 12 months ago, to $18.4 million.

That came off a revenue base which increased 22.2 percent, to $64.2 million.

The board declared an interim, fully-franked divided for FY24 of 4.80 cents per share, up from 3.60 cents a year ago.

PWR cited “strong growth in Aerospace and Defence, and Motorsport programs” as well as “improved operating efficiencies and cost controls” as the key reasons for the results.

Aerospace & Defence revenue more than doubled over the 12 months, from $3.5 million to $7.8 million, due to an increase in the size and number of programmes.

There was more modest growth in Motorsport and Automotive OEM, with growth in Formula 1, ‘Le Mans’, and GT noted for the former.

PWR also reported an increase in employee headcount of 50, or 10.3 percent.

Chairman Roland Dane said, “PWR has maintained its strong balance sheet with $15.6 million in cash at 31 December 2023.

“As a result, the Board has declared an interim, fully franked dividend for FY24 of 4.80 cents per share.”

Founding shareholder and Managing Director, Kees Weel, remarked, “the half year result reflects a solid performance across all parts of the business and PWR is well prepared to deliver on opportunities in the next few years as we continue to invest in our people, vertical integration, capacity, and capability.”

PWR operates from Australia, where head office is located in the suburb of Ormeau at the top of the Gold Coast, as well as Europe (United Kingdom) and North America (United States).