Construction and contract mining company Macmahon Holdings Ltd
(ASX:MAH) has reaffirmed its earnings guidance for 2010.
The company expects to report net profit after tax of between $36 and $40 million for the 12 months to June 30, 2010.
Macmahon also confirmed that its target dividend payout policy of 50% remains in place.
The company says it is also in a strong position with $1.2 billion of work won since January 1, 2010 and an order book in excess of $2.1 billion.
Macmahon Holdings has secured a number of contracts and contract extensions over the past few months including a $72 million contract extension with Newmont Mining and a $150 million contract extension with US Peabody Energy.
Macmahon Holdings booked a $17.16 million profit for the year to June 30, 2009.
