Engineering protects Leightons

As the Asian crisis runs its course and commodity prices improve, the fortunes of both these diversified mining contractors are set to rise.

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Engineering protects Leightons
View company profile for CIM

Date 8 May 1998
Current Price $32.22

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LEI reported a strong first half result with net profit rising by 10.1 percent to $41.7m. Asia has had a limited impact on the company due to the implementation of a highly selective growth strategy. The forward order book is at a record $4.23 billion with engineering construction forecast to increase over the next few years with major road and telecommunications projects in Australia and offshore. Hong Kong and Indonesian prospects continue to appear promising despite the Asian turmoil and with all major Asian contracts in US dollars, there's great protection against further volatility. With more than $230m in cash on deposit, the company is solid with improving prospects.

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