Monadelphous Group Ltd (ASX: MND) shares are shooting higher following the release of the engineering company’s half year results for the financial year ending 31 December (H1 FY21). At the time of writing, the Monadelphous share price is trading 3.46% higher at $12.26.
What did Monadelphous report?
The Monadelphous share price is getting a lift in morning trade after the company reported an 11.2% increase in revenue for the first half of the 2020 financial year, to $948 million.
The company pointed to the continuing recovery from COVID-19 impacts in the engineering and construction sectors as helping drive the boost in revenues. Revenue from its own engineering construction division increased 68% from the corresponding half…