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REPORTING SEASON: Leighton Holdings (LEI)

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Figure 1: Leighton Holdings 12 month chart

 

Leighton Holdings (LEI), one of Australia’s largest construction companies, announced a 122% rise in 1H13 underlying profit to $255m.

Revenue was driven by its Leighton Contractors & Thiess businesses (its two biggest units).

Despite its presence in a number of countries across Asia & the Middle East, around 80% of revenue still is generated locally.

Its NPAT result was boosted by the $115m (after tax) proceeds from telecom asset sales (also pushing gearing levels lower).

LEI delivered a 50% franked $0.45/share dividend to be paid to eligible shareholders on 3 Oct. Looking ahead, LEI reiterated its FY NPAT earnings guidance of $520-$600m.

 

You can see all of CommSec’s reporting season analysis by clicking here.

Steven Daghlian, Market Analyst,