CIMIC Group (ASX:CIM) NPAT $474 million for Jan to Sep 2020

Company News

by Katrina Bullock

CIMIC Group (ASX:CIM) has released its results for the nine months to 30 September 2020.

Net profit after tax was $474 million.

Revenue fell to $9.3 billion, down from the $10.7 billion the company achieved during the same period in 2019. Revenue returned to growth in the third quarter - up 8 per cent compared to the second quarter.

It says approximately $1.4 billion of new work was awarded to the company in the third quarter despite temporary delays in the award of some new projects due to Covid-19.

The company is optimistic following numerous stimulus packages announced by governments in its core construction and services markets.

Shares in CIMIC Group (ASX:CIM) are trading 6.01 per cent higher at $21.52.