Transfield confirms full-year guidance

10 Feb 2012, 10:44 am   -   Source: AAP
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Transfield Services says net profit for the 2012 financial year will be towards the lower end of its previous forecasts.

Transfield Services says its net profit for the 2012 financial year will be towards the lower end of its previous forecasts.

Transfield, which provides maintenance to the mining, infrastructure and facilities management sectors, said its net profit before amortisation for 2011/12 would be at the lower end of its $130 million to $135 million range.

Its lowered its expected earnings from Queensland-based resource sector services business Easternwell from $100 million to $87 million.

That was due to reduced capital expenditure on new rigs, and operational issues that have now been addressed, Transfield said.

Core operations in Australia and New Zealand were delivering growth, and the Americas and Middle East and Asia regions were performing in line with expectations, the Sydney-based company said in a statement on Friday.

That was despite the global and domestic macro-economic environments and strong Australian dollar, Transfield said.

The company is due to release its results for the six months to December 31 on February 22.

Transfield shares were up 15.5 cents, or 7.9 per cent, at $2.12 at 1032 AEDT.

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