News: Bradken H1 profit grows 1.1%

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Shares in Bradken Ltd (ASX:BKN) have dipped following the mining, engineering and rail products provider posting 1.1 per cent half year growth.

In the six months to 31 December 2010, Bradken recorded a net profit of $25.99 million, coming in just above the prior corresponding figure of $25.75 million.

In the same period revenue lifted 14.9 per cent to $535 million.

Managing director Brian Hodges says Bradken's Australian operations were impacted by weather conditions in January, however the company expects its mining business to expand over the remainder of the current financial year.

As a result Bradken has forecast its full financial 2011 year earnings to rise between 15 to 20 per cent.

In the year to 30 June 2010 Bradken lifted its net profit by 10 per cent to $70.8 million.