IPD Group Limited reported a robust half-year performance with revenue climbing 8.9% to $192.7 million and underlying NPAT rising 8.3%. The strategic acquisition of Platinum Cables strengthens its foothold in the mining sector, while a fully franked interim dividend signals confidence.
- Revenue increased 8.9% to $192.7 million in H1 2026
- Underlying NPAT rose 8.3% to $14.4 million
- Acquisition of Platinum Cables enhances mining sector presence
- Interim dividend declared at 6.8 cents per share, fully franked
- Net assets strengthened to $172 million with manageable net debt
Strong Half-Year Growth Amid Strategic Expansion
IPD Group Limited has delivered a solid half-year financial result for the six months ending 31 December 2025, showcasing an 8.9% increase in revenue to $192.7 million. Underlying net profit after tax (NPAT) also rose by 8.3% to $14.4 million, reflecting steady operational momentum across its diversified electrical infrastructure business.
The company’s performance was underpinned by growth in key infrastructure sectors including Data Centres, Industrial, Mining, and Water & Waste Water. Notably, Data Centre revenue surged 16% year-on-year, with a large order rescheduled to January 2026 suggesting even stronger momentum ahead.
Acquisition of Platinum Cables Bolsters Mining Sector Strategy
In a significant strategic move, IPD Group completed the acquisition of Platinum Cables Pty Ltd at the end of December 2025. Platinum Cables is a specialist provider of high-performance cable solutions tailored to the mining and resources sector. The $44.5 million deal, predominantly cash and debt funded, is expected to deepen IPD’s customer relationships and expand its footprint in a specialised market segment.
The acquisition is already accretive, with pro forma earnings per share (EPS) expected to increase by 11.5% excluding synergies and one-off costs. The integration of Platinum Cables is anticipated to support sustainable growth, particularly as the east coast workshop setup progresses alongside existing hazardous area assembly operations.
Financial Position and Dividend Confidence
IPD Group’s balance sheet remains robust post-acquisition, with net assets rising to $172 million. Net debt stands at a manageable $24.4 million, representing approximately 0.5 times pro forma EBITDA for fiscal year 2025. Inventory levels increased to support ongoing projects and future growth initiatives.
Reflecting confidence in the business outlook, the Board declared a fully franked interim dividend of 6.8 cents per share, up from 6.2 cents paid in October 2025. The payout ratio sits at a balanced 50%, signalling a commitment to shareholder returns alongside reinvestment in growth.
Outlook: Positive Momentum and Growth Pipeline
Looking ahead, IPD Group enters the second half of the financial year with a healthy order book and a well-qualified pipeline of opportunities. Early trading in January and February 2026 has maintained positive momentum across core segments, including the newly acquired Platinum business. The Board anticipates a solid full-year performance supported by these operational and financial indicators.
Bottom Line?
IPD Group’s strategic acquisition and strong half-year growth set the stage for sustained expansion in key infrastructure markets.
Questions in the middle?
- How will the integration of Platinum Cables impact IPD Group’s operational efficiency and margins?
- What are the risks associated with the contingent consideration tied to Platinum Cables’ future EBITDA?
- Can IPD sustain dividend growth amid ongoing investment and acquisition activity?