Cardno posts surprising earnings guidance

The infrastructure consultancy spiked in morning trade after updating guidance at the top end of its previous forecast.

Cardno (CDD) shares jumped to a near three-month high this morning after the infrastructure consultancy said its full-year earnings would come in at the top end of its guidance.

Management is forecasting net profit of $77 million for the year ended June 30, 2013, which will mark a 5% increase from the previous year.

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