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| Leighton reports a strong underlying profit Australian-based construction giant, Leighton Holdings Ltd, has generated a profit after tax of $340 million for the 6 month transitional year from 1 July 2011 to 31 December 2011 (the period) based on strong performances across the core construction and mining operations in Australia and Asia. "The Group reported a strong underlying profit (profit adjusted for the capital gain and impairments) after tax of $272 million for the period. Supplementing the result was a capital gain of $167 million after tax from the sale of the HWE Mining iron ore business, " said Chief Executive Officer, Mr Hamish Tyrwhitt. The Group has also taken a $50 million after tax impairment to the investment value of the Habtoor Leighton Group and a $49 million after tax impairment to the equity commitment with respect to BrisConnections, the listed toll-road developer. The net gain after impairments of $68 million, when added to the operating profit after tax of $272 million, produced a reported profit after tax for the period of $340 million. Revenue for the period totalled $12.2 billion with $10.0 billion generated from the Australia/Pacific region and $2.2 billion from the Group's international operations. The major revenue generating markets for the Group were infrastructure $6.7 billion, resources $4.4 billion and property $885 million. The Group's Operating Companies provided a range of services to these markets including construction $7.3 billion, contract mining $3.1 billion, and operations and maintenance $1.0 billion. Work in hand as at 31 December 2011 was $44.6 billion, with 64% coming from the Australia/Pacific region and 36% from international markets. After adding back the $1.2 billion of work in hand that was sold as part of the HWE Mining iron ore transaction, work in hand is around the same level as the record of $46.2 billion as of 30 June 2011. write your comments about the article :: © 2012 Construction News :: home page |