CIMIC beats full-year profit guidance, flags further rise in earnings

Company News

by Anna Napoli

Construction and engineering firm, CIMIC Group (ASX:CIM) has reported its net profit after tax (NPAT) rose about 11 per cent on 2017 to $781 million for the 2018 full year.

The result was at the top end of the company's guidance.

Its revenue strengthened over the 2018, and lifted 9 per cent on last year to $14.7 billion.

Earnings (EBITDA) increased over 12 per cent on the prior year, to $1.5 billion.

The company declared a final dividend of 86 cents per share up 15 per cent on the previous year.

CIMIC Group has forecast a further rise in earnings for 2019 attributing the growth to a pipeline of new projects.

Shares in CIMIC Group (ASX:CIM) closed 0.17 per cent lower to $45.90.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.