Construction giant Leighton Holdings, the major contractor on the New Royal Adelaide Hospital and South Road Superway, has more than tripled its half-year profit.
Leighton’s net profit of $366.2 million, for the six months to June 30, was up 220 per cent from the previous corresponding period’s $105.9 million.
Revenue for the same period rose by six per cent to $10.5 billion, from $9.9 billion.
In its report to shareholders today the company said work on both projects was proceeding as planned.
“Design and construction of the New Royal Adelaide Hospital for the SA Health Partnership is in its early stages, but progressing well,” the company said.
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“The project is due for completion in 2016.”
The company also has the $352 million contract to “deliver a 4.8km North-South transport corridor” as well as contracts for rail track upgrades.
In other reports to the stock exchange today blood products and vaccine provider CSL said it has lifted its profit 19 per cent amid stronger sales and improved margins.
CSL made a net profit of $US1.22 billion ($A1.35 billion) for the 2012/13 financial year, up from $1.02 billion for the previous year.
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Revenue was $US5.13 billion, up from $US4.81 billion for the previous 12 months.
CSL chief executive officer Paul Perreault said the company had lifted sales and improved margins on its key products during the year.
“The company’s core products of immunoglobulin and albumin have performed very well and we have strengthened our margins through a change in sales mix and a relentless pursuit of efficiency,” he said.
“Our suite of specialty products grew strongly, supported by the registration in the US of Kcentra, a product used in the urgent reversal of anticoagulant warfarin in patients with acute major bleeding.”
Mining services company Worley Parsons reported a seven per cent fall in net profit despite record revenue.
Australian stocks closed slightly lower despite strong profit growth by market heavyweights including Commonwealth Bank.
At the close on Wednesday, the benchmark S&P/ASX200 index was down 0.3 points, or 0.01 per cent, at 5,157.4, while the broader All Ordinaries index was down 0.6 points, or 0.01 per cent, at 5,141.
On the ASX 24, the September share price index futures contract was six points lower at 5,110 with 25,487 contracts traded.
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