Leighton Holdings Anticipates Spreading Out
Leighton Holdings

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.

Widening the growth prospects in mind, the company is planning to grow the mining volumes on the back of regional demand with uphold Australian iron ore and coal exports. Moreover, the company plans to invest US$275 billion on infrastructure in the next 5 years.

Anticipating the momentous construction opportunities, from Australia's A$43 billion National Broadband Network project, the company also expects to involve Nextgen fiber-optic cable network in the nation's largest infrastructure project.

However, the engineering and construction group has said its earnings guidance will be subject to possible investment.

"Engineering construction is expected to grow to A$140 billion by 2018, more than doubling within a decade, which augurs well for long-term construction opportunities. The next decade should see a significant spend on utilities, such as water and energy", said Wal King, the Chief Executive of the company.