Leighton confirms FY NPAT forecast

Contractor on track to post FY underlying net profit of $520m to $600m.

Leighton Holdings (LEI) says it is on track to meet its full-year earnings guidance, after posting a solid increase in first half profit.

In the six months to June, Leighton posted a net profit attributable to members of the parent entity, of $366.2 million, a significant lift on the $114.6 million loss recorded in the previous corresponding period, when the company was reeling from $1 billion-plus loss in blowouts at the Brisbane AirportLink and Victorian desalination plant projects.

Revenue in the period grew 6% to $10.52 billion, slightly stronger than the $9.93 billion recorded in the prior year. 

Leighton chief executive Hamish Tyrwhitt said the group remained on track to deliver a full-year underlying NPAT within the previous guidance range of $520 to $600 million, subject current market conditions.

It will pay a partially-franked interim dividen of 45 cents, up from 20 cents in the prior year.