Leighton Holdings News

Leighton Holdings today announced it had entered a binding agreement for the sale of John Holland to CCCC International Holding Limited (CCCI). CCCI is a wholly-owned subsidiary of China Communications Construction Company (CCCC), the fourth largest construction company in the world by revenue1 . CCCC has a market capitalisation of approximately A$23.5 billion and is listed on the Hong Kong and Shanghai stock exchanges. CCCI will purchase John Holland for an enterprise valuation of approximately A$1.15 billion subject to certain adjustments. Leighton Holdings Executive Chairman and Chief Executive Officer Marcelino Fernández Verdes said: “In June 2014 we announced that…

Leighton Holdings Limited today announced its unaudited results for the nine months to 30 September 2014. Executive Chairman and Chief Executive Officer, Mr Marcelino Fernández Verdes, said: “The Leighton Group produced a strong result in the third quarter. Underlying net profit after tax1(UNPAT) of $470 million was up 21% from $389 million in the previous corresponding period. Reported net profit after tax (NPAT) of $430 million also compared favourably with the same period in 2013, when NPAT of $444 million included a one-off gain of $115 million from the sale of 70% of the Group’s telecommunications assets. Mr Fernández Verdes said: “Looking at the balance sheet and cash flow…

Leighton Holdings announced its results for the six months to 30 June 2014. * EBITDAiii of $843 million. * NPAT of $291 million. * Gearing of 37.1%. * Interim dividend of 57 cents per share, 25% franked, an increase of 27% on HY13. The Leighton Group reported an increase in total revenue during HY14 of 3% on HY13, driven primarily by growth in construction work, which rose 5% to $7.7 billion. Executive Chairman and Chief Executive Officer Marcelino Fernández Verdes said: “I’m pleased to report the Leighton Group net margin again expanded during the period, continuing a steady improvement from 1.0% in HY12 to 2.7% in HY14. The Group’s…

Leighton Holdings announced the appointment of Four Managing Directors. Construction will be led by David Jurd, who is currently the Executive General Manager of Leighton Contractors’ Infrastructure Division. Mining will be led by Bruce Munro, who is currently Managing Director of Thiess. PPPs will be led by Angel Muriel, who is currently Leighton Holdings’ Chief Development Officer. Engineering will be led by Craig Laslett, who is currently Managing Director of Leighton Contractors. Ian Edwards will continue to lead Leighton Asia, India and Offshore; Glenn Palin will continue to lead John Holland; and Mark Gray will continue to lead Leighton Properties. Leighton also announced the branding of the construction and mining businesses.

Leighton Holdings Chairman, Mr Bob Humphris OAM, has announced his retirement as Chairman and his resignation as a Non-executive Director effective as of today. Mr Humphris signaled his intention to retire at the Company’s recent Annual General Meeting in May. Mr Humphris said: “It has been a privilege to be involved with Leighton for the last nine and a half years and as Chairman for the last year. However it is now time for me to retire from corporate life and to hand over to a new team. I look forward to watching Leighton grow and prosper in the future, building on the professionalism of our staff and, in particular, the Group’s very strong ‘can do’ culture.

Leighton Holdings Limited announces that it has entered into a conditional agreement to settle the shareholder class action brought against it in relation to the 11 April 2011 disclosure of a revision of its profit forecast for the 2011 Financial Year. The claim was commenced by Inabu Pty Ltd. The class comprises shareholders who purchased shares in the period from 16 August 2010 to 11 April 2011. Under the terms of the settlement, Leighton Holdings will pay $65.55 million (plus costs). The settlement will have no material impact on earnings or profit forecasts. Leighton Holdings’ CEO, Mr Marcelino Fernández Verdes, said: “Whilst we continue to deny the claim, the decision to settle the class action was a commercial one, taken in the interests of our shareholders.