Engineering company Cardno Limited (ASX:CDD) has forecast a record profit for the first half of its 2012 financial year.
The Brisbane based firm says it expects to deliver a net profit of between $34 million to $36 million in the six months to the end of December, 2011.
The guidance represents up to 13.6 per cent growth from the previous corresponding period and comes on the back of a strong performance from US operations, improving conditions in Australia and the contribution from recent acquisitions.
Cardno maintains a positive outlook for the second half with broadly improving conditions in its main markets.
Full year results are scheduled for release on the February 14, 2012.
Shares in Cardno closed 2.89 per cent higher yesterday at $5.70.
In the 2011 financial year, Cardno reported a net profit of $58.8 million for the 12 months to June 30, 2011.
