Crane and equipment rental company Tutt Bryant Ltd. posted a 23.5-percent increase in net profit from continuing operations to AU $14.7 million (about U.S. $12.1 million) for the full fiscal year ended March 31, the company said. The company posted a 14.5-percent hike in revenue to AU $231.1 million (about U.S. $190 million).
The company said it is well positioned for organic growth and strategic acquisitions. During the past year, the company, which began listing on the Australian stock exchange in December 2005, acquired Muswellbrook Crane Services and North Sheridan Pty Ltd.
Tutt Bryant, formerly known as Tut Hong Rental, has a modern fleet with more than 90 cranes and five branches. A sister company, BT Equipment, is a major construction equipment distributor that complements Tutt Bryant with other products.
Managing director David Haynes said the company is “well placed to consider further bolt-on acquisitions, with a number of targets under consideration.”