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Business Description: Matrix Composites & Engineering Limited (MCE) is a manufacturer and distributer engineered products and service provider to the offshore oil & gas and iron ore industry. MCE has two main operations, namely, Matrix Composite Materials and Matrix Offshore Services and Engineering.
Strategy Analysis: MCE's strategy is to expand the business through the integration of its advanced materials and heavy engineering businesses, develop new applications for existing processes and technologies, and expand its geographic presence into further offshore oil and gas regions.
Matrix Composites & Engineering reported NPAT of $527,501 for the half-year ended 31 December 2012. Revenues from ordinary activities were $81.57m, down 2.4% from the same period last year. Diluted EPS was 0.6 cents compared to (3.1) cents last year. The net operating cash outflow was $9.2m compared to an inflow of $4.8m in the pcp. No dividend was declared.
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