CIMIC Group (ASX:CIM) has today announced substantial increases in cash flow, net cash and work in hand for the first quarter of 2019, delivering sustainable returns and cash-backed profit.
CIMIC's net profit (NPAT) lifted 5 per cent to $181 million when compared to the same time last year.
Revenue of $3.4 billion, was up 6 per cent, with solid performances across all operating companies.
Cash flow from operating activities rose 60 per cent to $248 million.
The company has confirmed guidance for 2019 NPAT in the range of $790 million to $840 million, subject to market conditions.
CIMIC says with continued growth in revenue and profit, and substantial increases in cash flow and net cash during the period we are in a strong financial and operating position.
Shares in CIMIC Group (ASX:CIM) closed 0.47 per cent lower at $48.90 yesterday.