Mineral Resources (ASX: MIN) chairman Peter Wade says the diversified mining services company is creating 20 to 30-year business horizons to sustain sector-leading returns for shareholders. Writing in MinRes’ annual report, Mr Wade said his board was cognisant of “current and expected headwinds in terms of minerals pricing” and would strategically target substantial growth across the mining-related infrastructure sector as part of its long-term value plan.
Mineral Resources (ASX: MIN) has released its annual report for the 2018 financial year, with overall performance reflecting the successful outcome of strategically targeting growth in both the mining services and commodity production sectors since the company listed in 2006. Revenue increased 11.4 per cent to $1.62 billion compared to FY17, with net profit up 35.3 per cent to $271.8 million. Total shareholder return has been $19.07 per share, which is equivalent to an annualised increase of 42.9%, when averaged over the 12 years since listing.