Opus International Consultants’ net profit after tax for the first half of this year was $10.4 million, well ahead of the $5.1 million profit recorded for the same period last year.
“This is a very positive outcome for the first half of this year, and was achieved despite the tight economic conditions in many of our markets which has constrained revenue growth,” said Opus’ Chairman, Kerry McDonald.
“In New Zealand we have performed strongly and in Australia business has shown good improvement. We are still experiencing difficult market conditions in the UK, but our business there continues to improve and the loss we experienced last year in this market has been turned around to a profit for the first half of this year. This is an excellent achievement. In Canada revenue and profit are down on expectations.”
“For the first half-year ended 30 June, we have achieved earnings before interest and tax (EBIT) of $15.5 million, compared to $7.4 million for the same period last year. Our Australian business reported an EBIT of $1.4 million, Canada $0.2 million, New Zealand $13.6 million and in the UK $0.2 million.”
Mr McDonald said Opus is strongly focussed on business improvement and market conditions.
"This has included increased collaboration and work sharing amongst locations, which has often expanded capacity and capability. The company has maintained a strong base of long term contracts in addition to acquiring new work. As we move into the second half of the year we will continue to closely monitor the economic climate and focus on opportunities.”
At the Opus Board meeting today the Directors approved an interim dividend payment of 3.4 cents per share, to be paid on 30 September 2010.
For further information please contact:
Dr Kevin Thompson
Tel: 04 4717022