CIMIC Group’s 1Q net profit up 5%, cash flow up 60%

Company News

by Anna Napoli

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.

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.