News: Leighton FY profit rises on record revenue

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Leighton Holdings Limited (ASX:LEI) has improved its net profit by 13 per cent to $509 million in the full 2013 calendar year on the back of record revenue of $24 billion.  

 

The construction giant’s underlying profit grew 30 per cent to $584 million which also came within its guidance range of between $520 million and $600 million.

 

Looking ahead Leighton says improved profitability will be driven by margin expansion initiatives, as top line growth is not expected amid the current tough market conditions. 

 

The company expects to deliver an underlying net profit of between $540 million to $620 million in the current 2014 financial year.   

 

A 50 per cent franked final dividend of 60 cents per share has been declared, bringing the full year payout to $1.05.