Construction giant Leighton Holdings is optimistic about the future as the company anticipates good resource and construction activity.
Chief executive Hamish Tyrwhitt said Leighton was looking beyond Asia to sub-Saharan Africa, where resources-rich deposits are yet to be fully stgeloped, and to the Middle East and North Africa, where civil and social construction opportunities are emerging.
“We remain optimistic about the future and about our ability to deliver increased profitability and sustainable returns to shareholders,” Mr Tyrwhitt said in Leighton’s annual report on Wednesday.
He said Australia continued to benefit from its integration into the Asia-Pacific region.
“The outlook for resource and construction activity is good, notwithstanding the near-term peak in mining capital expenditure, productivity challenges and funding issues for both federal and state governments,” Mr Tyrwhitt said.
Leighton, which is the largest contract miner in the world, said it had maintained a strong position in this market during the year.
On Monday Leighton appointed Bob Humphris as chairman, as it sought to quickly put the sudden resignations of three directors behind it.
Mr Humphris said the company’s immediate priority was to find new independent directors, with non-executive director Paula Dwyer to lead a special committee of the board to oversee the process.