Cimic Names New CEO; Says 3Q Cash Flow Up
October 18 2016 - 6:31PM
Dow Jones News
By Rhiannon Hoyle
SYDNEY--Australian construction company and contract miner Cimic
Group Ltd. (CIM.AU) named Adolfo Valderas as chief executive, while
also reporting an increase in quarterly cash flow.
Cimic said on Wednesday Mr. Valderas, currently Deputy Chief
Executive Officer, would take the helm with Marcelino Fernández
Verdes, currently CEO and Executive Chairman, to continue in the
latter role.
The company separately said it recorded cash flow of 532.9
million Australian dollars (US$409 million) in the three months
through September, up 7.3% on-year. It reiterated an earlier
projection of A$520 million-A$580 million in net profit for
2016.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
October 18, 2016 18:16 ET (22:16 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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