Leighton predicts solid 2010 outlook

Leighton Holdings Ltd says its first quarter results are strong and its outlook solid, as the company reiterated full year 2010 guidance of revenue in excess of $19 billion.

Chairman David Mortimer told shareholders on Thursday that core operating businesses remained strong.

"The core operating businesses remain strong and the group has generated a profit after tax (unaudited) of $131 million, an increase of 25 per cent on the prior first quarter," Mr Mortimer said.

"The group's outlook for the 2010 financial year remains solid, despite the impact of the global financial crisis."

The company said first quarter revenue was up ten per cent at $4.5 billion, with full year revenue on track to exceed $19 billion.

Full year net profit is expected to be about $600 million, up from last financial year's $440 million.

Leighton says work in hand at September 30 was $38.3 billion.

Mr Mortimer said a decline in some of Leighton's core markets had been countered by government spending and economic stimulus in both Australia and overseas.