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Steadfast nine-month revenue rises 26%

Steadfast’s nine-month revenue has risen 25.8% to $597.9 million, the company says in a trading update prompted by coronavirus outbreak uncertainties.

Earnings before interest tax and amortisation (EBITA) also rose 21% to $147.9 million, with organic and acquisition growth remaining strong.

The company says it has never previously provided quarterly figures but has released the information to keep shareholders and the market informed after it withdrew full-year guidance on March 25 “under abundant caution”.

“Steadfast Group will provide further updates on financial performance and the impact of the unfolding COVID-19 situation as appropriate,” it says in the statement released to the Australian Securities Exchange.

The nine-month EBITA result excludes a $3.6 million mark-to-market gain from an investment in listed firm Johns Lyng Group. The figures are also unaudited.