Company Interview / FDC’s maiden result builds on $2.5B backlog

Key points:

Strong maiden listed result with revenue and normalised profit growth$2.5 billion work in hand underpinning FY27 guidanceDiversified growth across construction and fitout/refurbishment and multiple states

Construction contractor FDC Construction & Fitout reports what CEO Russell Grady describes as a strong maiden full-year result as a listed company, with revenue up 13% to $1.69 billion and normalised net profit rising 14% to $70.8 million. EBIT is said to jump 19% to $91.7 million, beating prospectus expectations, although statutory results show a $58.2 million loss due to one-off legacy employee share costs. Guidance is reaffirmed for FY27, targeting $1.9 billion in revenue and $100 million of normalised EBIT, supported by $2.5 billion of work in hand and a dividend payout target of 70–90% of NPAT.

Grady points to broad-based strength across both construction and fitout/refurbishment segments, with growth across all states, particularly Queensland, Victoria and South Australia, alongside healthy momentum in New South Wales. He highlights diversification across sectors and geographies as a core differentiator, arguing it allows the business to stay agile and not rely on any single sector for growth, even as data centre fitouts emerge as a key opportunity.

Data centre work is seen as a natural extension of FDC’s long technical heritage, with more than 20 years’ experience with major operators. Grady also stresses high client stickiness, with about 90% of the top 20 clients returning over the past four years.