The result was achieved on total revenue that rose 141% from $85 million to a record $205.3 million.
Earnings before tax increased from $1.4 million to $15.7 million after adjusting for non-recurring items.
Interim dividend has been reintroduced with a fully-franked 3.5 cents per share dividend to be paid on March 28 to Lucas shareholders registered on March 3. This follows the payment of a final 2.5 cents per share dividend out of 2006-2007 earnings.
Executive chairman Allan Campbell said the decision to resume payment of an interim dividend had been made in recognition of an "extremely positive" outlook and strong cash flow.
Cash flow from operations in the latest six months improved by $19.7 million, or 435%, to $24.2 million.
Looking ahead, Campbell said the outlook over the balance of fiscal year 2008 was particularly strong with a record order book and all sectors of the business experiencing strong demand.
"We have upgraded our full-year turnover forecast for the current full year to be in the order of $430 million to $450 million - double the Company's previous annual revenue of $216 million achieved in 2006-2007," he said.
"Our current order backlog of $472.5 million, including the Bonaparte project, works required to complete the Eastern Pipeline and long-term drilling contracts, underpins the Group's operations over the next year, with many other projects also under tender.
"Margins are expected to be similar to those experienced in the first half, subject to the impact of any rain interruptions in Queensland."
Campbell said all Lucas divisions contributed to the record first half result following a substantial increase in activity.
"The drilling division in particular is growing extremely rapidly, with its focus on drilling for the coal and coal seam gas industries," he said.
The company is now the leading supplier of drilling services to Australia's coal and coal seam methane industries
"We are also applying our coal seam gas expertise, both technical and drilling, to the development of our own gas assets," Campbell said.
AJ Lucas and partner Molopo Australia expect to shortly announce first reserves from their Gloucester Basin project, leading to Lucas' eventual divestment of this asset.
The company is also optimistic that it will replicate this coal seam methane success at Sydney Gas Ltd, where the recent purchase of a 15% shareholding makes Lucas SGL's largest single shareholder.
In addition to its drilling operations, AJ Lucas is Australia's second largest cross-country pipeline contractor, offering a full engineering, procurement and construction service.
It is also a major Sydney building and project management company, a leader in trenchless technology and a partner in major civil engineering infrastructure projects.
