Leighton Profit Jumps by a Third

   By Rhiannon Hoyle 
 

SYDNEY--Leighton Holdings Ltd. (LEI.AU) said profit rose by a third last year, as work on massive gas projects and transport infrastructure in Australia helped offset a slowdown in the country's mining industry.

Leighton, Australia's biggest construction company, reported net profit of 676.5 million Australian dollars (US$525.8 million), up from A$508.7 million the year earlier.

It said the resources sector remained "challenging," but added: "Leighton's markets offer a range of new project opportunities, particularly as governments in Australia and Asia roll out initiatives to address significant infrastructure deficits."

Leighton on Wednesday reported a final dividend of A$0.68 a share, which included a A$0.15 special dividend, compared with a A$0.60 payout the same time a year ago. The company projected 2015 net profit of A$450 million-A$520 million.

Separately, Leighton said it was mulling options for its FleetCo. division, which it plans to house all of its mining-machinery fleet in by the end of 2015--including potentially bringing in investment partners to free up cash for investments elsewhere.

Leighton is majority-owned by Germany's Hochtief AG (HOT.XE).

Write to Rhiannon Hoyle at [e-mail]

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