Australia's Leighton lifts full-year 2013 profit by 30 pct

Thu, 20 Feb - 8:34am

SYDNEY, Feb 20 (Reuters) - Leighton Holdings Ltd LEI.AX , Australia's biggest builder, reported a 30 percent jump in its full-year underlying net profit on Thursday, beating analysts' forecasts, as an increase in infrastructure and property work partially offset a decline in contract mining.

Underlying net profit after tax, adjusted for impairments, jumped to A$584 million for the full year ended December 2013 from A$448 million a year ago. That was at the higher end of the group's own guidance range of A$520 million to A$600 million.

The result also beat analysts' average forecast of A$530.1 million, according to Thomson Reuters Starmine data.

The company reported a net profit after tax of A$508.7 million, rising 13 percent from A$450.1 million a year ago.

It declared a final dividend of 60 cents per share, taking its full year dividend to A$1.05 per share, a 31 percent rise on the previous year.

The company, which operates in Australia, Asia and the Middle East, said it expects the 2014 underlying net profit to be within the range of A$540 million to A$620 million.

Leighton shares lost 32 percent over the past year, suffering from corruption allegations, against a 6 percent rise in the broader market. The stock closed at A$16.41 on Wednesday.

Leighton's majority owner Hochtief AG HOTG.DE has increased its stake in the company to gain exposure to Asia's growing market. Hochtief, which now owns 59 percent of Leighton, is in turn controlled by Spain's ACS .

(Reporting by Maggie Lu Yueyang, editing by G Crosse)

((maggie.luyueyang@thomsonreuters.com)(+61-2-9373-1819)(Reuters Messaging: maggie.luyueyang.thomsonreuters.com@reuters.net))

Keywords: AUSTRALIA LEIGHTON/RESULTS

URN: 
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