As forecast Leighton Holdings Limited (ASX:LEI) has posted a full year loss of $408.8 million, swinging from a profit of $612 million the year before.
The construction company’s result was impacted by problems at its Queensland Airport Link project and Victorian desalination project as well as an impairment charge from its stake in the Habtoor Leighton Group.
Last week Leighton said it would sell its mining business in Western Australia to BHP Billiton Limited (ASX:BHP) for $705 million, the proceeds of which will be put towards the company’s 2012 result.
A final dividend has not been declared, in line with Leighton’s guidance earlier this year.
Looking ahead Leighton anticipates it will return to profitability over the next year and is forecasting a net profit of between $600 million to $650 million in the 2012 financial year.
LEI Price at posting:
$21.29 Sentiment: None Disclosure: Held
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