Opus sees Australia resource sector as providing a platform for growth

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Opus International Consultants is eyeing Australia and Canada for acquisitions to supplement its growth.

Managing director David Prentice told yesterday's annual meeting the company had a strong platform for future growth in an expanding Australian economy driven by the resource sector, which was a focus for Opus.

Opus, which has its origins in the Ministry of Works and Development, is an engineering consultancy with staff in New Zealand, Australia, Canada and Britain.

"Growth will continue to be supplemented by building on carefully targeted acquisitions, particularly in Australia and Canada," Prentice said.

Last November, Opus announced it was buying Canadian engineering consultancy Dayton & Knight, which had 90 staff, in a C$15 million ($19 million) deal.

Opus expected to be heavily involved in the rebuilding of earthquake-damaged Christchurch, Prentice said.

But he cautioned that while the Government's injection of capital on infrastructure, particularly new roads, would be positive, it would be subject to budget pressures and the reality of the Christchurch rebuild.

Short-term disruption from the Christchurch earthquake and Queensland floods was expected to dampen results for several months until rebuilding and remediation got into full swing and Opus' activity level rose.

In the year to last December, Opus reported net profit rose 18 per cent to $22 million, on revenue of $367 million.

Opus shares closed up 2c to $2.22 yesterday.

- NZPA