CARDNO BUILD PROFITS FOR FY10

Written on the 13 September 2010

CARDNO BUILD PROFITS FOR FY10

INFRASTRUCTURE services company Cardno Limited (CDD) has announced a 10 per cent profit increase for FY10, despite the cost of four acquisitions and a fall in revenue.

Managing director Andrew Buckley (pictured) says the result reflects an improved second half, with better market conditions and benefits from the acquisitions of ITC Group, Australian Underground Services, ENTRIX and Environmental Resolutions Inc.

“Cardno traditionally achieved organic growth of 7 per cent to 9 per cent before the global financial crisis,” he says.

“With the strong performance of recent major acquisitions and a return to organic growth, the company is well positioned for 2011.”

Chairman John Massey says the record profit result of $37.6 million came during a period of adverse economic conditions, but Cardno has adapted well by diversifying its operations.

“This is the sixth consecutive year of record profit and earnings per share growth since listing in 2004 with total shareholder return in this period of over 400 per cent,” he says.

“The company’s strategy of diversifying its operations through acquisitions and growth across multiple geographic regions and disciplines has proven successful.”


Latest News

BUSINESS CONFIDENCE AT A SIX-YEAR HIGH

SMALL and medium businesses have entered 2017 with their confidence at a six-year high, building on strong gains m...

CRITICS CALL FOR MORE INDEPENDENT DIRECTORS ON BLUE SKY BOARD

BLUE Sky Alternative Investments (ASX: BLA) has defended its governance and valuation processes in response to severa...

BEGA PAYS $460 MILLION FOR VEGEMITE TO BRING THE ICONIC BRAND BACK UNDER AUSTRALIAN OWNERSHIP

VEGEMITE is back under Australian ownership after Bega Cheese (ASX: BGA) agreed to buy Mondelez International's A...

GUVERA ESCAPES WIND-UP ORDER

GUVERA has avoided being wound up after a claim for a $1.78 million debt by Kwong Properties was dismissed at the ...

Related News

BUSINESS CONFIDENCE AT A SIX-YEAR HIGH

SMALL and medium businesses have entered 2017 with their confidence at a six-year high, building on strong gains m...

CONSUMERS PESSIMISTIC ENTERING 2017

CONSUMER confidence remains at its weakest point since April 2016, according to the latest Westpac Melbourne Institut...

RISE OF STARTUP SUPPORT PROGRAMS NOT AS ROSY AT IT SEEMS

ENTREPRENEURIAL cultivation companies in Australia are appearing quickly, but questions have been raised about whe...

SMES TAKE RETAIL MARKET SHARE AS CONSUMERS CHOOSE PERSONALISATION

IN a battle for the hearts and wallets of Australian consumers, it appears that small and medium retail businesses...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter