Source:  The Wall Street Journal Asia                              Date: 19 August, 2010

Leighton Holdings Ltd. has said its net profit and work-in-hand both hit record levels in fiscal 2010, with growth set to continue in the current financial year. Net profit for the 12 months to June 30 rose 39% to AUD612 million, up from AUD440 million a year earlier. Chief Executive Wal King also said work-in-hand was AUD41.5 billion at the end of the financial year and has since increased to more than AUD42 million. The company is majority owned by Germany's Hochtief AG.

"The outlook for the group remains positive based on a record level of work-in-hand, a strong competitive position and continuing economic recovery in our major markets," Mr. King said. "We remain positive for the 2011 financial year and expect to report increased revenue and operating profit." Mr. King said Leighton has a five-year target to lift work-in-hand to AUD50 billion, revenue to AUD30 billion and net profit after tax to AUD900 million.