Engineering and construction contractor Forge Group has outlined a new divisional structure to support a planned diversification of its business into the process infrastructure and oil & gas sectors.

New managing director David Simpson has also unveiled plans to develop the company's asset management service.

Mr Simpson told today's annual meeting the group planned to integrate its four existing businesses - Abesque Engineering, construction contractor Cimeco, Africa-focused Webb Construction and power contractor CTEC - under the single Forge brand.

Under the new structure, the group will have four divisions targeting power, mining & resources, construction and asset management.

The new structure follows five years of rapid expansion, led by former managing director Peter Hutchison.

This included revenue jumping to $780 million last financial year and net profit hitting $49.3 million.

Mr Simpson said the group was continuing to grow; its order book has expanded from $900 million at 30 June to $971 million currently.

The main contributor to its recent growth was a $280 million contract won by CTEC to build a new power station for Rio Tinto at the iron ore miner's Cape Lambert port in the Pilbara.

Forge said the power sector accounted for 53 per cent of its current order book; iron ore accounted for a further 31 per cent.

Shareholders approved all resolutions at today's annual meeting, including the re-election of directors Kevin Gallagher and Marcello Cardaci and the election of Mr Simpson as a director.

The appointment of KPMG as the company's new auditor, replacing Grant Thornton, was also approved.