09/11/2012 - 15:58

AusGroup reports 101 per cent profit jump

09/11/2012 - 15:58

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Building and construction contractor AusGroup is expecting sustained demand for its services after announcing a 101 per cent jump in first quarter earnings.

Singapore-listed AusGroup today reported a 26 per cent increase in revenue, an 86 per cent increase in earnings per share, and a 101 per cent increase in profit after tax for the quarter.

“The group continues to experience a consistent level of demand for pricing and tendering requests,” managing director Laurie Barlow said.

“The group expects these levels of pricing and tendering activity to continue as committed major projects enter their construction phase.”

Mr Barlow said the long-term outlook for the Australian resources sector in WA, NT and Queensland markets continued to be positive.

“The group is confident of seeing sustained demand for its services over the next few years due to the range of services that the group can offer these markets as a multidisciplinary contractor.”

AusGroup said it had $303 million in work in hand as of November 8.

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