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

SURFSTITCH SHARES HALVED AS LOSS HITS $155M

ONLINE actions sports retailer SurfStitch (ASX:SRF) endured another day of pain on the stock market as its shares ...

RAMSAY SHARES PEAK ON HEALTHY PROFIT

RAMSAY Health Care (ASX: RHC) shares were given a tonic today as the company reported a 16.8 per cent surge in net...

BRISBANE BRIDGES ASIA WITH SRI LANKA

THREE Brisbane companies just invested more than $150,000 dollars in Sri Lanka. In a business 'matchmaking...

DIRECTORS DEPART AS SLATER AND GORDON POSTS BILLION-DOLLAR LOSS

THREE long-time Slater and Gordon (ASX: SGH) directors are closing the book on the company, which has just confirm...

Related News

HOTCOPPER FLOAT SLAMMED AS 'CRAZY'

CUDECO founder Wayne McCrae (pictured) has ripped into share market discussion board HotCopper ahead of its IPO, s...

FROM THE TANK: GOOD OLD-FASHIONED BUSINESS STILL RELEVANT

BEING involved with Shark Tank and my friendship with startup guru Steve Baxter has inspired me to seriously engage w...

TOURISM GETS A SHARE OF QANTAS BILLION

QANTAS Airways (ASX:QAN) is ploughing back some of the mega-profits it has earned this past year into promoting its h...

INTEREST RATE HITS RECORD LOW OF 1.50 PER CENT

THE Reserve Bank of Australia has taken the cash rate down 25 basis points to a record low of 1.50 per cent at its...

Contact us

Email News Update Sign Up Contact Details

Subscribe to our mailing list

* indicates required
Email Format

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter