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The result compares to an EBIT of $32.8 million in the previous corresponding period, while revenues including contributions from joint ventures rose 4.5% to $387.9 million from $371.1 million previously.

The company has declared an increased final fully-franked dividend of 4.5c a share, payable on September 22, taking full year payout to 8c compared to 7c previously.

Sedgman managing director Mark Read said the company’s coal division had performed strongly during the year, citing the expansion of the $75 million Sonoma contract to more than $180 million through the addition of a second stage processing module and a five-year operations agreement.

Other highlights included a $100 million contract to undertake design, construction and commissioning work on the Lake Vermont Coal Handling and Preparation Plant with JV partner Thiess in Queensland's Bowen Basin.

“During the year the coal division also achieved practical completion on the Dawson CHPP through the Thiess Sedgman joint venture in alliance with Anglo Coal, for the largest facility constructed in Australia,” Read said.

Read added that Sedgman had also entered into a major overseas coal project by winning a $20 million design contract with Brazilian resources giant Vale for its Moatize project in Mozambique.

“The metals division also enjoyed international success during the year when Pac-Rim won a mobile crushing contract at the Lihir gold mine in Papua New Guinea while picking up more domestic work, including a screening contract at Macmin Silver's Twin Hills mine,” Read said.

Looking ahead, Read anticipates coal and the metalliferous sectors will remain positive in domestic and international markets for 2009.

“Demand for energy remains strong, particularly driven by the industrialisation and urbanisation of China and India,” Read said.

“Sedgman Coal's expanding presence into southern Africa and China will enable it to take advantage of this strong market while Sedgman Metals is experiencing increased demand for feasibility studies and remains well positioned to benefit from these positive conditions.”

Shares in Sedgman have slipped 5c to $2.35 in early afternoon trade.