KEY POINTS:
Opus International Consultants has reported an annual net profit after tax up 6.5 per cent to $14.2 million.
Opus, formed when the Ministry of Works and Development was privatised in 1988, was floated last October.
A total of 29 million existing and new shares was sold in the
float, representing about 21 per cent of the shares on issue, raising $48m.
Malaysian owner, Opus International Group Plc, retained a majority stake.
Today's result for the year to the end of December was 4.7 per cent above the forecast in the company's prospectus, Opus said.
The profit was achieved on a 17.4 per cent increase in revenue to $296m, exceeding its forecast by $15.4m, or 5.5 per cent.
Earnings before interest, tax, depreciation and amortisation grew 6.2 per cent to $23.8m, exceeding prospectus forecast by 3 per cent, the company said.
Chairman Basil Logan said that during 2007 , Opus continued to cement its position in this country, Australia, Canada, Britain and the United States, and was successful in winning significant contracts in each.
"Infrastructure asset management, particularly in relation to transportation remains core to our business. We have seen significant growth in this sector recently and have been awarded a number of large projects, in New Zealand and Canada," Mr Logan said.
Growth through acquisition had continued, particularly in Australia, and the company intended to continue that growth throughout its business.
In the past five years Opus had expanded to become a global company with a strong base in Britain, Australia and Canada.
Total staff numbers increased by 17 per cent to 2236 and its offices and laboratories increased from 67 to 82.
Highlights for Opus during the year included:
* developing an infrastructure asset management framework for the Ontario Ministry of Public Infrastructure Renewal in Canada;
* being appointed to New Zealand railway projects, including developing Auckland's rail transport and the design of the new Newmarket railway station;
* being appointed for the engineering design of a cruise liner terminal at Southampton in Britain; and
* being awarded the civil and structural consulting work for a new $940m Sunshine Coast Hospital and Queensland Institute of Medical Research Centre.
Opus announced a fully imputed final dividend of 4.5 cents per share.
The company's shares closed at $1.55 on Friday, having debuted on the stock exchange last October at $1.99, a 21 per cent premium over its $1.65 issue price. It peaked at $2.30 in November.
- NZPA
