Media Release - Opus Lifts Profit
09 August 2011
OPUS LIFTS PROFIT
Opus International Consultants net profit after tax for the six months to 30 June 2011 was $11.3m. This is an 8% uplift on the $10.4m recorded for the same period last year and earned on revenue up $12m to $197m. The result included the benefit of a $1.4m tax credit from the NZ R&D regime.
“The outcome for the half year is very satisfactory.” says Opus’ Chairman, Kerry McDonald.
“We experienced significant disruptions from the Christchurch earthquakes and the severe floods and cyclones in Queensland. Despite that we have achieved an uplift in revenue and earnings and maintained a healthy balance sheet, and are well positioned to ride through the current turbulence in global financial markets.”
“For the half year we achieved earnings before interest and tax (EBIT) of $13.5 million, down from $15.5m in the first half of 2010 and reflecting the challenges in parts of our business. Of this, $12.3m was from New Zealand, $1.4m from Australia, $0.5m from Canada and the UK experienced a $0.8m loss for the period.
Mr McDonald said that there were also significant differences in the economic performance of the markets Opus operates in, particularly in infrastructure investment.
“However, we are matching work and resources across the business, including the additional work now arising from Christchurch and Queensland and Opus’ global capacity is a key strength.”
At the Opus Board meeting today the Directors approved an interim dividend of 3.8 cents per share, to be paid on 30 September 2011.
For further information please contact:
Dr David Prentice
Tel: 04 4717022
Mob: 027 470 2686