By Rhiannon Hoyle
SYDNEY--Leighton Holdings Ltd. (LEI.AU) said profit rose by a
third last year, as work on massive gas projects and transport
infrastructure in Australia helped offset a slowdown in the
country's mining industry.
Leighton, Australia's biggest construction company, reported net
profit of 676.5 million Australian dollars (US$525.8 million), up
from A$508.7 million the year earlier.
It said the resources sector remained "challenging," but added:
"Leighton's markets offer a range of new project opportunities,
particularly as governments in Australia and Asia roll out
initiatives to address significant infrastructure deficits."
Leighton on Wednesday reported a final dividend of A$0.68 a
share, which included a A$0.15 special dividend, compared with a
A$0.60 payout the same time a year ago. The company projected 2015
net profit of A$450 million-A$520 million.
Separately, Leighton said it was mulling options for its
FleetCo. division, which it plans to house all of its
mining-machinery fleet in by the end of 2015--including potentially
bringing in investment partners to free up cash for investments
elsewhere.
Leighton is majority-owned by Germany's Hochtief AG
(HOT.XE).
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
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