Integra Group Ltd (ASX: ITG) shares are one of the better performers on the ASX market today after the company released its half-year results for the 2021 financial year. At the time of writing, the Integra share price is surging 15.7% higher to 33 cents.
What were the financial highlights?
The Integra share price is flying today after the company delivered a mostly positive result, despite operating as an independent company for less than 18 months. The company demerged from Cardno Limited (ASX: CDD) in October 2019 to focus on its core business strategies and reduce overhead costs.
In its half-year result for the six months ending 31 December, Integra reported total gross revenue of $210.7 million. This reflected an 8.8% decline compared to the $231 million achieved in H1 FY20. Contributing to the fall, fee revenue also sank to $157 million, a 7.1% drop from the comparative period.
Projects were largely wound down in the Asia Pacific region as COVID-19 impacted market conditions. The company’s Americas segment remained relatively flat due to project delays in its oil and gas business. However, construction materials saw a boom in infrastructure spend.
Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) increased over the period to $24…