Leighton reaffirms full year guidance as nine month net profit jumps 82%

Leighton reaffirms full year guidance as nine month net profit jumps 82%Leighton Holdings Ltd., an Australian construction and energy giant, announced today that its net profit grew 82% for past nine months ended March 31 despite a slight fall in revenue for the period.

Leighton also said today that it has decided to maintain its previous earnings guidance for the full year.

The company said that the increase in net profit for the first nine months of the fiscal was mainly attributable to the strong and solid turnovers in mining and infrastructure business.

Leighton said that unaudited net profit for the nine months ended March 31 was reported of $A400 million, increasing by 82% while it was reported of $A220 million in the same period last year.

Total revenue for the period was reported of $A13.3 billion, decreasing by 2.7% while it was reported of $A13.7 billion in the previous corresponding period. The company said that total work in hand at March 31 was reported of $A37.5 billion, while it was reported of $A36.5 billion at March 31 last year.

Leighton also said that it is reaffirming its previous guidance for FY 2010. The company said that it expects full year net profit after tax of around $A600 million for FY 2010. Leighton expects revenue of around $A18.5 billion for the full year.