The company’s profit was up from $215.2 million the previous year, with revenue increasing by 32% to $10 billion while work in hand swelled to $16 billion from $15.5 billion at the end of June last year.
Chief executive Wal King said mining and resources works had been a principal revenue driver, contributing $2.6 billion to the group’s activities, second only to engineering and infrastructure projects, which generated $4.2 billion in 2005-06.
“The group has a record level of work in hand and the prospect of maintaining work at similar levels given the construction and resources opportunities still emerging in Australia, and the broad range of prospects in Asia,” King said.
“This workload is expected to translate into revenue of more than $11 billion in 2006-07 and the directors are confident of reporting a strong profit increase for the year.”
King said Leighton is also expecting to retain work in hand in the order of $14 billion to $16 billion, driven by an extended range of construction projects in Australia, resources-related projects, solid growth and the acquisition of contract miner Henry Walker Eltin (HWE).
In Queensland, Leighton has secured a $312 million contract to develop BHP Mitsui Coal's new Poitrel project and will build infrastructure for the new Isaac Plains project.
“Contract mining of coal and iron ore will substantially drive activity in the resources sector, with the newly acquired HWE business expected to make a solid contribution,” King said.
