Ausdrill said its 34 per cent increase in net profit of $35.7 million for the 12 months to June 30 excluded costs incurred defending Macmahon Holdings Ltd's hostile $478.4 million takeover offer
The 2007/07 result compares with $27.54 million for the previous corresponding period,a previous record.
Ausdrill chairman Terry O'Connor said the 34 per cent increase in net profit from a six per cent increase in revenue was outstanding and reflected buoyant market conditions for the mining services sector.
O'Connor said Ausdrill expected to maintain strong margins as the benefits of a large investment in equipment during the 2008 financial year flowed into earnings.
"Ausdrill is in its best ever financial and operational shape and is positioned to continue its strong performance for the foreseeable future," he said.
"All of our core divisions made positive contributions to the record profit, with strong performances in both Australia and Africa.
"Ausdrill is well placed to capitalise on the unprecedented demand for mining industry services globally."
A final dividend of six cents a share, fully franked, was declared. This brought total dividends for the year to a record 11 cents, fully franked, up 22 per cent.
Construction and engineering firm Macmahon on Wednesday lifted its all-scrip bid from 1.45 shares to 1.65 shares for every Ausdrill share - and declared its bid final.
This offer values Ausdrill at $478.4 million based on Macmahon's closing share price on Friday of $1.71.
Ausdrill's board maintained its previous recommendation that shareholders reject the offer, saying it did not sufficiently value the company.
Macmahon's initial offer was announced on May 21 and valued Ausdrill then at $446 million.
Ausdrill said on Wednesday Macmahon had received acceptances for less than one per cent of Ausdrill shares.
