Building and engineering services provider Norfolk Group Ltd
(ASX:NFK) has reported a rise in net profit for the first half of fiscal 2010 and says it is well positioned for the future with a record order book.
Net profit after tax rose 29.5% to $5.7 million from $4.4 million in the same period last year.
Revenue of $388.4 million for the period rose 3.1% with earnings before interest and tax from continuing operations up 10% at $11.475 million.
Norfolk Group says conditions remain uncertain in some markets, with project deferral still a reality in some sectors and a slow recovery in the New Zealand economy.
However the company says a record order book positions the company well for the future with a record value of $820 million.
Norfolk Group’s 2009 net profit took a big tumble from its result in 2008.
