Leighton Holdings Limited (ASX:LEI) has reported a 66 per cent first half profit drop on a like for like basis and affirmed its full year profit guidance.
The property developer booked a first half net profit of $114.6 million in the first six months of 2012. The result was hit by write downs on two major projects, the Airport Link and Victorian Desalination Plant.
Having recently changed its financial reporting year to a calendar year Leighton says it still expects to deliver an underlying profit after tax of between $400 million to $450 million in the full 2012 calendar year.
Looking ahead Leighton says global economic activity continues to remain subdued and the outlook highly uncertain.
An unfranked final dividend of 20 cents per share has been declared.