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| Leighton reports disappointing third quarter Australia's top contractor, Leighton Holdings, announced a loss after tax (unaudited) of $382m for the nine months to 31 March 2011 from total revenue of $13.8bn and expects to report a loss after tax of $427 million for the 2010/11 financial year. Chief Executive, Mr David Stewart, said that whilst the result is extremely disappointing the company is acting decisively to deal with all its issues. “Having recognised the write-backs and impairments, Leighton is now well positioned to return to more normal growth and earnings in 2011/12 and beyond, ” said Mr Stewart. “Looking forward, the Leighton Group is in solid shape with most of our major markets – particularly Australian infrastructure and resources, and the bulk of Asia – proving very attractive. At the end of March, work in hand stood at a record $46 billion which has a strong level of embedded profitability, ” said Mr Stewart. write your comments about the article :: © 2011 Construction News :: home page |