Construction company Leighton Holdings Ltd
(ASX:LEI) has announced full year profit after tax of $440 million down 28 per cent from $608 million recorded the year before.
The company says its profit was impacted by a reduced property development contribution and investment impairments.
Leighton says its work in hand remains close to record levels at $37 billion, the order book boosted by the award of some $25 billion of new work, extensions and variations during the period.
Total revenue rose 26 per cent to $18.3 billion compared to $14.5 billion recorded last year.
Leighton Holdings says for the 2010 financial year the group is confident that revenue will exceed $19 billion and expects net profit after tax of around $600 million.
CEO Wal king says the result represents a similar level of operating performance to the last year and provides a good base for the group to resume profit and revenue growth in 2011 and beyond.Leighton Holdings declared a final dividend of 55 cents a share.
Leighton Holdings profits have been growing each year for the past four years.
