Fulton Hogan lifts annual earnings 43%, looks to grow water, rail, airport units

Sun, 28 Sep 2014

By Paul McBeth Sept. 29 (BusinessDesk) - Fulton Hogan, the privately held construction firm, lifted annual earnings 43 percent as it cut its costs in the face of falling Australian revenue, and is looking to grow its water, rail and airport units. Net profit rose to $138.2 million in the 12 months ended June 30 from $96.5 million a year earlier, the Christchurch-based company said in a statement. Revenue fell 11 percent to $3.24 billion as a strong New Zealand dollar eroded export earnings, and on reduced Australian construction activity...

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