Cardno posts record FY profit

Infrastructure firm bucks raft of profit downgrades across mining industry.

Contractor Cardno (CDD) has bucked a raft of profit downgrades in the mining services industry, posting a record result for the year led by extra earnings from seven new mergers. 

Net profit rose 4.7% to $77.6 million, from $74.2 million in the previous year. 

Revenue grew 23.8% to $1.19 billion in the period, from $965.8 million, "largely due to the positive contributions of new merger partners".

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