some of the highlights, here at Lycopodium. I intend to run through the presentation this morning as we walk through this, we'll give you a good overview, I believe, of not only the financial results, but also what we've been able to achieve operationally, and provide some outlook for the coming period. From a financial overview perspective, we had a record year reflecting the level of activity in the business, and the success that we've had in delivering our work. Earnings per share this year was significantly up at AUD 1.177 per share. We've resolved to pay a final dividend of AUD 0.45, which will bring the full year dividend to AUD 0.81 per share, which is a tremendous outcome.
This is toward the top end of our range that we have within our dividend policy. It's not at the top end, it's towards the top end. In terms of our register, it remains fairly constant in terms of the split between internal, institutional, and retail investors. In terms of the company, Lycopodium has, has not changed in the last 12 months. We continue to evolve and to grow, of course, a 31-year-old business, but we remain active in the same sectors, and we remain active in providing the same services. As I said, we just continue to evolve as a business. The services that we provide, project evaluation, process engineering, project delivery, project optimization across the three sectors of mineral resources, infrastructure, rail infrastructure, and industrial processes remains the same.
geo- geographically, and I do have a little bit of news in that respect. obviously, this is, at, at, year's end, our, our offices and our areas of operation remain, the same as, as last year. We are, at this point in time, opening and in the process of opening. In fact, this week we have a, a team in, in, in town, opening an office in Lima. We expect to be, fully, fully operational, in, in Lima, again, in a staged basis, by, the start of October. That's, that's promising in terms of our, our geographic, geographic reach. This slide basically gives you, in a snapshot, the financial, performance, and some, oversight of the business.
As I said, highest ever revenue and profit, highest ever return to shareholders, of the 31 years we've been in business. We're a little over 1,100 staff globally, of course, that is just the people that we employ. It doesn't include, for example, the people who are in Mondium, it doesn't include the people who are in ECG. That's two businesses in which we have a stake in. It doesn't include the people that we manage across all our various sites. It's, you know, a large organization, doing lots of things across the globe. We continue to have a very high quality team of high caliber people across the business, whether it be in Perth, Montreal, South Africa, Brisbane, Newcastle, Manila, Manila, or in Accra, across our sites.
Our, our teams are, I believe, our differentiator, and we've got some fantastic teams and some fantastic people with great things. The value of capital projects we're currently managing is over AUD 4 billion. That doesn't include... When I, when I talk about that managing, that's, that, that's businesses, sorry, that's projects that we actually have been delivering. That doesn't include the capital value of feasibility studies, for example, that we are currently even at a better stage on. We're currently delivering over 35 different resource projects, over 40 resource studies. We continue to invest in our people. I'll talk a little bit more about that later on.
As well, we continue to invest in our systems and platforms, as well as I mentioned earlier, in terms of geographic diversification with the opening of Lima. We're also investing in sector diversification, and I'll talk a little bit more about that later as well, but again, a continuation of a theme that I've spoken about previously in terms of our energy and the energy, participation in the energy transition. Again, financials. We recorded revenue, a record revenue of AUD 327.6 million and record NPAT of AUD 46.8 million. We retained a very strong balance sheet, with cash at the end of June, being AUD 82 million in the bank, and negligible debt.
Of note, as you can see on this slide, our PE, in fact, as our PE, as of closing price, share price yesterday was 8.5, which in reality is well below our many of our peers or other participants in the engineering and construction realm with the likes of Monadelphous at 24.8, SRG at 14.4, and even GR Engineering at over 11. I consider our business, I think our board consider our business a high-quality business with a long-standing track record. Obviously demonstrating great value from an investment perspective as well. Growth has been consistent, so obviously growth is up this year.
We, in terms of personnel, revenue, general business activity. It's been consistent across the 3 sectors. From a revenue split perspective, it remains at around 90% of mineral resources, 6% in rail industry. They are returning the smallest, or the lowest revenue of those sectors. It remains very important in its own traditional areas. That business that we have headquartered out of Melbourne remains very important in its traditional areas, but is also typically leading the company's efforts in the energy transition related work I spoke about earlier. Important for us, an important business, important part of the piece of the puzzle, if you like.
Geographically, as forecast last year, we have seen a rebalance between the Australian domestic and international work. That really reflects the high level of activity we have here in Australia, particularly on a number of lithium projects, which I'll, I'll, I'll talk a little bit more about later on. As well as just the general activity in Australia, again, doesn't mean that the level of activity in the other arenas has been any lower. It's just from a split perspective. In terms of balance sheet, I spoke earlier. Again, very strong balance sheet. We have the ability to, to, obviously fund our own working capital, to fund our growth and fund the growth that we're continuing to see.
You know, an ability to, make sure we can bond, when we have to on various, contracts that we, have going from anyone, at any given time. We also have the ability to pursue our strategic objectives. We can do this all off our own balance sheet. Again, this is not something that's occurred overnight. This is something that just reflects a business that's been, steadily but surely, building and steadily but surely, building on strong foundations. That includes strong financial foundations. From an operational perspective, the photo you see there is actually Cobre Panama, nighttime. Lovely, lovely photo of the, what was now a 100 million ton per annum copper concentrate, for First Quantum.
From an operational perspective, the general theme across the year has been that all the businesses have been busy, and you can see on that slide, and I won't read through that slide. You can see on that slide the, the work that we've started, the sites that we've started to mobilize, the engineering that we're continuing to, to do, the projects that have been completed, the studies that are moving into the next phase, et cetera. I, I won't, I won't go through it in, in detail, but suffice to say that all the businesses have been busy and have delivered strong returns to shareholders. Each of the businesses has done this in an effective manner and in line with the culture and the approach, of which Lycopodium is recognized.
What I mean by that is they've done it safely, they've done it effectively, they've done it efficiently, they've done it, with a focus on, on the project, and, and with a focus on the client's needs. But at the same time, making sure that we continue to build our own, very strong teams and, and support our teams. In the resources arena, we've had projects completed, as on the, the slide, the, the likes of, Séguéla project in Cote d'Ivoire for, Roxgold, the, Motheo project, the copper concentrator in, in Botswana, Bomboré project, Talison Lithium, et cetera.
There's a lot of work that's been completed but, the pleasing thing is that there's a lot of work that's continuing to run and there's a lot of work that's continuing to flow through the project pipeline. Again, one of the things that I think is a feature of this last 12 months is we've mobilized a lot of sites, and for us, as an organization, when we have a lot of site activity, it tends to indicate more profitable time. And so that's been the one of the key drivers to our success, the past 12 months. As I mentioned, really, we've got a healthy workload or load of studies across the business to make sure that happens and it continues into FY24.
Also, outside of the rail infrastructure, we are also seeing strong uptake of our, our services in industrial processes, and in rail infrastructure, as well as kicking off, I think, one of the, for me, the landmark projects which we've kicked off in the last 12 months is the Reko Diq advanced feasibility study, basic engineering for Barrick in Pakistan. That, that project is a world-scale copper concentrator in a new province, requiring all the infrastructure to support it. It, it's certainly a very significant prospect for our business during this FY24-25 and beyond.
First and foremost, and, and, and people often ask, you know, "Is there anything that is likely to keep you awake at night?" Really, in terms of our business, I think that we're running really well. I think that the entire business is, is ticking along, you know, beautifully, and we want to obviously keep it that way. One thing that is always of concern, given that we are, you know, have our own 1,100 people and then a further 2,500 people we manage across sites, is making sure that they're safe, making sure we had no material, environmental incidents, no debilitating injuries or the like. You know, I think the team has done an exceptional job to ensure that they're doing things such as back to basics, you know, high level of audits.
Lycopodium, safety for us is one of our key values, our core values. And it's fundamental to everything we do. It's not something we necessarily put up in lights, especially because it, it's what we-... That's what we do. Move within and trying to find our place in the energy transition. Of course, we're, you know, we're already very, very active in battery minerals. We're already very active in, in renewables and in other industrial processes that are, are the platform for the energy transition. We're also working out how can we get into the engineering and project delivery services in what is a, a burgeoning and a growing sector.
We're, you know, doing lots of things with, you know, it's a healthy level of studies, over 40 studies in the business, and this is just on in resources. Healthy level of, of projects in engineering early stages, you know, on-site delivery progressing, and delivered. You can see that, you know, there's a, a good order book of projects. I can assure you there's, there's some fantastic studies that we're working on that should point to, you know, a good year this financial year and, and beyond. We are participating in, but also considering how we participate further on. You've heard me say that previously. Certainly something we continue to do. You know, we continue to see strong demand for the commodities in which we're involved.
You know, we believe that's going to play a role for the business moving forward. In, you know, even in our rail infrastructure business, there's certain facets. That's quite a niche business, but there's certain, certain facets of the market that are, are particularly strong, that we think are going to bode, and also, with a number of projects we are currently studying at the moment, we expect it to be a lot stronger in Asia as well. Generally, we will continue to look to deliver a balanced portfolio of projects on EPCM, integrated team, perhaps EPC basis.
Again, it's, it's in some regards business as usual, but it's continuing to evolve, our knowledge and continue to provide our skills and expertise in, in project execution planning and in delivery, that will see us participate in a bunch of different projects. We're gonna continue to work our people plan. It's really important. We've, we've put an enormous amount of energy into it across the last three, four years, and, whilst, we've, we've borne a lot of that fruit, there's still more to come, and, and we'll continue to do that. Knowledge management, we're investing in platforms, we're investing in systems to drive efficiency, to facilitate work. Innovation, we've got a, a, a digital, engineering, task force in the business.
We're continuing to work with, engaging with industry as well as with the FBICRC, CSIRO, CSIRO, as mentioned earlier. As I mentioned, already, really the energy transition. We will be playing an important part in that. We are very specifically equipped. We are high caliber engineers and project people, and there's a strong demand for what we have been delivering and what we'll continue to deliver. That's the full presentation. I would also like to say, as per this morning's full year announcement, that Michael Caratti, who mix in the room with us, one of the founders of the business and of course, chairman of the business, and has advised he'll be stepping down from the position of chair at this year's AGM.
He'll still be in the seat, the hot seat, for a few, few more months. He'll be handing over to Rod, and of course, Rod was previously managing director of the, of the business. On behalf of the, the, the company, on behalf of shareholders, and, you know, on behalf of our clients as well, I'm sure, I'd just like to thank Mick for his vision, his dedication in building such a highly respected company. I'm also pleased to advise that Mick will remain on the board, so we'll continue to, to have the benefit of his experience, knowledge, his sage, sage words, and sage, sage advice. Also, of course, want to congratulate Rod on his upcoming appointment.
Finally, I'd, I just want to thank all our staff for their tireless work and commitment across the year. They have continued to demonstrate their lycopodium's values, life coatings approach, and they've delivered a fantastic outcome for our clients, and I believe they've delivered an exceptional outcome for our shareholders. You know, I think this is something which continues to reflect very positively for the company. That's it from, by way of the full presentation. I will hand over to Harmony, where you'll be open, or can, we can take some questions.
Thank you. If you wish to ask a question, please press star one on your telephone and wait for your name to be announced. If you wish to cancel your request, please press star two. If you're on a speakerphone, please pick up the handset to ask your question. We'll pause for any questions to register. Once again, to ask a question, please press star one. We have a question from Graham Cureton, private investor. Please go ahead.
Yep. Yeah, hi, Peter. Great result. Great result, great balance sheet, all good stuff. One thing I just noticed, is the provision for warranties. Is that a, just a general provision, or is it specifically, related to some other projects?
Yeah, thanks, Graham. Thanks for the question. Yeah, it's, it's actually a provision, as we do each year, for specific projects that may be in defects liability period, or also by warranty period, or any other projects where we, due to the contracting nature, feel the need to provide to offset the potential future liability. It's very specific, not, it's not a general amount. It's, it's tied to something which is consistent with our approach, which is consistent with what we've, what we've done historically.
Right.
It's been reviewed by our auditors to make sure that it's consistent with accounting standards, et cetera.
Okay.
I was just gonna say, it is, it's not for a specific liability that we know about?
No, no. No, it's, we make allowances based on, you know, a risk-based assessment of what our contractual responsibilities are for a period of time or during the period. So it's not a. To Nick's point, it's not a specific.
Okay.
Allowance. It's definitely not.
No, no. Good conservative accounting from the shareholder's point of view. I just note that the move into Pakistan, I've got to say I was there about 40 years ago. It's a, it's a different world. It was then like, not too sure what it's like now. That is a pretty big project, I understand. In terms of size, could you just give us a ballpark figure in terms of billion or billions? What, what, what sort of size of, of... What are you looking at in terms of, it's copper and gold, I understand?
Yeah. The Reko Diq project is a, yeah, a very significant project. It's, it's gonna be delivered on a number of stages. Its first phase is 40 million ton per annum. 40 million ton per annum. 40 million ton per annum, and then the idea is that's basically duplicated, but a lot of the infrastructure will need to go in up front, of course, as to talk not only to the initial project, but then to the expanded case.
Right.
Yeah, I mean, it's, well, well, I guess we're doing the feasibility study, and we'll determine a CapEx for it, but, you know, it will be in the order of a plus $7 billion total project, US dollar total project.
Right.
It's a big project in a very remote part of the world.
Yeah.
Massive infrastructure that needs to go in. There's lots and lots of things to happen between now and, you know, I guess, in the full investment decision or final investment decision by the Barrick board. It's very promising.
Yeah
in, in the past because, you know, they're already making very positive moves in terms of how they're gonna be funding this project. We're engaged at a senior level with Barrick. In fact, Karl Cicanese, the Managing Director of our Lycopodium Minerals APAC business, is with us here in the room, and Karl and myself are actually meeting with Barrick's senior leadership next week on the sponsor, at sponsor level, and that's with the likes of Mark Bristow to talk about exactly these things. I guess the important thing there is, is I think we're gonna have reasonable visibility as to how this project might develop, how it might be funded. The relevance for us, of course, is, you know, it's, it's big. It's...
We're, you know, we're a big, small engineering. We've got 100 people global.
Yeah.
This would require us to step up a little bit.
Okay, cool. I know there's a comment in the report said, "Strengthening of demand for iron ore from China." Is that that redundant now, given the fact that we've If you believe the press, that China's actually going the other way?
Yeah, it's, it's interesting with iron ore, and, you know, yes, China is going the other way, but the important thing with, with iron ore is that, you know, in the Pilbara, there's an enormous annual capacity that's that's produced, and projects are coming to life. There's a number of projects, BHP and Rio Tinto are two, and of course, FMG, you've heard about bringing their project that they said wasn't gonna be sort of kicked off until 2050. They're talking about starting pre-construction back in 2026, just yesterday. I guess the point is that, you know, even sustaining production requires projects to be built.
Yes.
whilst we may or may not be involved with them, certainly you, I, I think you're gonna see a number of large iron ore projects are still delivered, across the next couple of years, not only here in West Australia, but of course, similarly, there's talk there, there's a lot.
Yeah.
Excuse me. There's a lot that needs to happen there, but, it's hard to know.
Okay, cool. Thank you. Thanks, Peter. Great, great said. Great balance sheet. Great result. Congratulations.
Thank you very much, Graham.
There are no further questions at this time. I'll hand back to Peter for any closing remarks.
All right. Well, if there's no further questions, I'd just again like to thank you for participating in today's call, and your interest in our organization. As I said, I think, you know, it's been a really good year, thanks to our people, thanks to our management, and.