Legend Corporation's Half Year Profit

Tuesday 7th February 2012 9:27am

TIA Member Legend Corporation attributes early year acquisitions to its 27% increase in its half year profit.

Yesterday it reported an after tax net profit of $5million in the first half of the year, exceeding its October forecast of $4.4 million to $4.8 million.

Chief Executive Officer Brad Dowe said, "Legend continues to deliver significant improvements in revenue and earnings whilst maintaining modest debt levels. The result, a combination of growth in pre-existing businesses augmented by strategic acquisitions, demonstrates the success of company strategies and the groups' focus on accelerating growth in engineering construction markets. Legend is well positioned for further organic growth and acquisitions."

Legend's recent acquisitions re-enforce the groups focus on the strong growth markets associated with engineering construction, power, rail and mines.

The company has not made a forecast in relation to performance for the remainder of the 2012 year. The company will pay an interim dividend of 1c on April 27.