CARDNO FORECASTS RECORD FY11 PROFIT

CARDNO FORECASTS RECORD FY11 PROFIT

INTEGRATED professional services provider Cardno Limited (ASX:CDD) expects to report NPAT of between $57 million and $59 million for the year ending June 2011 – a $37.6 million spike from the last FY.

Managing director Andrew Buckley (pictured) attributes the performance to strategic growth markets such as environmental consulting services.

“This strong performance was delivered in a climate which included the significant appreciation of the Australian dollar. Cardno’s strategy of aligning the currencies in which it earns its revenue with costs has diminished the impact of this foreign exchange movement,” he says.

“Our low gearing and strong balance sheet provide the company with a solid base for launching future acquisitions.”

The market responded positively with CDD shares jumping 18 per cent to $5.67.

Cardo came it at No. 18 in Brisbane Business News 2011 Top Companies edition and employs around 4000 staff.

Enjoyed this article?

Don't miss out on the knowledge and insights to be gained from our daily news and features.

Subscribe today to unlock unlimited access to in-depth business coverage, expert analysis, and exclusive content across all devices.

Support independent journalism and stay informed with stories that matter to you.

Subscribe now and get 50% off your first year!

Four time-saving tips for automating your investment portfolio
Partner Content
In today's fast-paced investment landscape, time is a valuable commodity. Fortunately, w...
Etoro
Advertisement

Related Stories

Golden handshakes to departing ASX100 CEOs hit 12-year high

Golden handshakes to departing ASX100 CEOs hit 12-year high

Around one in every six CEOs of ASX100 companies left their job&nbs...

Maggie Beer Holdings CEO Kinda Grange resigns just 16 months into the job

Maggie Beer Holdings CEO Kinda Grange resigns just 16 months into the job

The revolving door of leadership at Maggie Beer Holdings (ASX: MBH)...

Dreamworld owner reports improved ticket sales despite severe peak season storms

Dreamworld owner reports improved ticket sales despite severe peak season storms

The owner of Gold Coast theme parks Dreamworld and WhiteWater World...

Peter Farrelly's action comedy Balls Up starring Mark Wahlberg to be filmed in QLD

Peter Farrelly's action comedy Balls Up starring Mark Wahlberg to be filmed in QLD

The Australian film industry continues to attract Hollywood product...