As the world's biggest contract miner looks at growth overseas, Leighton Holdings Ltd. has restated that it is on track to achieve its expected full year profit of over $600 million.

Leighton Chief Executive, Wal King also reiterated the target profit of $900 million in five years time.

The value of the labor on Victoria's M80 ring road upgrade, as announced by Leighton Holdings Ltd. subsidiary Thiess, has been fixed up at $623 million. He also added that the scope of jobs between the Calder Freeway and Sydney Road has been brought to completion.

Shares of Leighton Holdings increased by as much as 4.3% today, after the corporation proclaimed that it had saved $1.5 billion worth of further work.

Despite the challenging global conditions, Australia's largest project development and contracting group, Leighton Holdings posted 10% jump in its first-quarter revenue and restated its anticipation for a full-year net profit of about $600 million.

The company accounted an increase of total revenue of A$4.53 billion in the three months ended Sept. 30, on contrast to earlier income of A$4.11 billion.

Leighton Holdings Ltd is hoping for growth in profits in the year 2010, with the stabilization of the economy. With the announcement, its shares were up more than 8 percent.

During the current year, the company forecasts a rise in the net profit to about A$600 million ($506 million), provided there are no hindrances to the investments and the revenue crosses A$19 billion.

Chief Executive, Wal King, said, "The tide is coming in and every time the tide has come in it has always gone to a new high watermark."