Ann: Leighton Q3 profit of $400m and $37.5bn of w, page-7

re: Ann: Leighton Q3 profit of $400m and $37.... The results arent bad at all in fact they are good apart from the Australian $s strength nothing really has gone bad the past 3 month for them. Even that is not really a bad thing as they can just use the power of the Australian dollar the other way when spending and investing in infrastructure and external contractors.

Its also worth to note that they have grown a fair bit in the GFC with lots of new contracts still being tendered the next 3 month..


Leighton reports 82% rise in net profit

Construction and contract mining giant Leighton Holdings Ltd has reported a 82 per cent rise in net profit for the nine months to March 31.

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17.05.2010 10:31 AM

Construction and contract mining giant Leighton Holdings Ltd has reported a 82 per cent rise in net profit for the nine months to March 31 and reaffirmed earnings guidance for the full year.

Leighton booked net profit after tax of $400.3 million for the nine months to March 31, 2010, up from $220 million in the prior corresponding period.

Revenue fell 2.7 per cent to $13.3 billion, the company said in a statement on Monday.

Leighton chief executive Wal King said the results were "strong", reflecting solid performances in mining and infrastructure and helping offset "difficulties in property and the Middle East - particularly Dubai".

"Our diversification strategy has helped sustain the business through the worst of the global financial crisis (GFC)," Mr King said in the statement.

"And, after the residual GFC issues impacting property and the Middle East subside, we see the growth in our core markets continuing to strengthen."

Mr King said net profit after tax for the full 2009/10 year was expected to come in "in excess of $600 million", which was the same as guidance issued at the company's half-year results in February.

The company expected full year revenue to come in "around $18.5 billion".

"The final results for 2009/10 and dividend payments are, of course, subject to market conditions," Mr King said.

Leighton reported net profit of $440 million in 2008/09, on revenues of $18.3 billion.

Mr King said work in hand at March 31 stood at $37.5 billion, up from $36.5 billion at the same time last year.

"Since March 2010, an additional $1.8 billion of work has been won and the group is in a preferred position on over $6 billion of projects which should be awarded in the next few months," Mr King said.

Leighton's Australian-based operating companies were expected to benefit from a "sustained level of infrastructure spending" over the next decade, Mr King said.

Meanwhile, sustained demand from China and the rest of Asia for iron ore and coal should drive increases in export volumes, which bode well for contract mining opportunities, he added.

"Demand for energy is also forecast to remain strong presenting the group with significant opportunities over the next few years to undertake construction work on a number of Liquefied Natural Gas and Coal Seam Methane projects," Mr King said.

But Mr King said Dubai was "likely to remain subdued for some time".

At 1040 AEST, Leighton shares were down $1.13, or 3.26 per cent, at $33.51.



http://www.thebull.com.au/articles/a/11476-leighton-reports-82-rise-in-net-profit.html

Todays reaction just shows how fragile the times are, I mean high expectations cannot explain it to me. the confidance in the markets are low due to euro and due to the tax which has effected all investors.Its just a matter of time for this to turn back up.