CIMIC Group
(ASX:CIM) has released a strong report card for the nine months to 30 September 2017, with the business indicating it remains positioned to meet its 2017 guidance.
In addition, the business has announced the internal promotion of Michael Wright to Chief Executive Officer and Managing Director.
Current CIMIC Group Chief Executive Officer Adolfo Valderas has accepted a role with ACS Group but will remain as a CIMIC Group Director.
CIMIC’s revenue for the period is up 26 per cent year on year, coming in at $9.6 billion, with net profit after tax, EBIT and EBITDA also up.
The company has also highlighted its strong pipeline of work going forward, with nearly $23 billion in tenders to be bid and/or awarded during the remainder of 2017.
Shares in CIMIC Group
(ASX:CIM) last traded 0.81 per cent higher at $48.35.
