Engineering and construction group Ausenco has forecast further growth in 2013 after reporting a full year net profit of $41.4 million, a 57 per cent jump on the previous year.
Ausenco said the profit came on record revenue of $633.5 million, up from $547.9 million in financial year 2011.
The company will pay a final dividend of 10.1 cents per share.
Chief executive Zimi Meka said the results showed growth across the business in FY2012, which he expected to continue into FY2013.
Mr Meka said Ausenco had won more than $140 million in new revenue to date in the current financial year, and the company had around $450 million in its order book.
“Our proposal and near-term tender activity is strong across all sectors and in all delivery phases, regions and clients,” Mr Meka said.
“Our diversification is providing growth opportunities for all of our businesses. During the year we increased our service offering, expanded our footprint and built on our expertise in the important markets which are forecast to result in a high demand for our services in the future.”
Mr Meka said the company’s growth was being largely driven in North and South America, as well as in Africa and the Middle East.
“Although there has been a slowdown in some sectors, geographies and commodities, the large number of opportunities in our markets and our track record of delivering value to our clients give us great confidence in the future for our businesses,” he said.
“Despite the slowdown in business conditions locally, Australia continues to be a key market for Ausenco and we have restructured our local operations and presence to maximise the services we can offer to Australian clients and to grow our Australian revenues.”
At 12:15PM, WST, Ausenco shares were up 1.3 per cent, at $3.90.
