Slowdown signs - Leighton 9 month profit down by 41%
Friday, 15 May 2009
Australia's top engineering group Leighton Holdings Ltd reported a 41% fall in profit for the first nine months of fiscal 2009, hit by investment write downs and cut its full year forecast.
The company, majority owned by German construction group Hochtief said that it now expects a full year net profit after tax of AUD 430 million down by 10% from its earlier forecast. Its net profit for the nine-months to March fell to AUD 220 million from AUD 375 million a year earlier partly due to writedowns on its investments in mining services group Macmahon Holdings and two toll road operators.
