Investors were ecstatic to hear the positive outlook by Leighton’s chief executive Wal King.
Yesterday, Leighton shares closed 80 cents higher or 3.9%higher at $21.35.
Investors were happy to hear King who told corporatefile.com.au that the group has got a large volume of work, with some $17 billion worth of work in hand as at the end of September, and a lot of work coming through.
“We’re confident this year’s revenue will exceed $11 billion and profit growth will be, at a minimum, 15 percent over 2006.
“Our dividend policy is clear – we pay out 60 to 70% of earnings. As a minimum, we expect our profit to increase 15% this year and we’d expect the dividend to keep pace with that. We expect our next two dividends to be unfranked but, subject to our earnings profile, we’d expect to return to a level of franking after that,” he added.
Meanwhile, the ASX Property Index closed 0.2% higher at 2259.3 points and the All Ordinaries Index also closed 0.6% higher at 5245.3 points.
The other winners were S8, Axiom Properties and Sunland Group.
The losers were Tourism and Leisure Trust, Homeloans and MFS Living.
By Adam Parsons
Yesterday’s Winners
Name | Volume | Open $ | Low $ | High $ | Last $ | Change $ | Change |
S8 LTD | 338,289 | 4.520 | 4.520 | 4.750 | 4.720 | 0.22 | 4.88% |
AXIOM PROPERTIES | 153,480 | 0.350 | 0.350 | 0.355 | 0.355 | 0.015 | 4.41% |
SUNLAND GROUP | 1,116,897 | 2.540 | 2.530 | 2.680 | 2.650 | 0.11 | 4.33% |
CP1 | 311,125 | 0.875 | 0.870 | 0.910 | 0.910 | 0.035 | 4.00% |
LEIGHTON HOLDINGS | 425,484 | 20.750 | 20.750 | 21.500 | 21.350 | 0.80 | 3.89% |
WENTWORTH FPO | 4,077,892 | 0.027 | 0.025 | 0.027 | 0.027 | 0.001 | 3.84% |
RUN CORP LIMITED | 22,950 | 0.135 | 0.135 | 0.140 | 0.140 | 0.005 | 3.70% |
VILLAGE LIFE | 63,861 | 0.160 | 0.160 | 0.165 | 0.165 | 0.005 | 3.12% |
PORT BOUVARD | 35,738 | 3.320 | 3.310 | 3.390 | 3.390 | 0.09 | 2.72% |
AUSTRALAND PROP | 1,781,285 | 1.845 | 1.840 | 1.900 | 1.895 | 0.05 | 2.71% |
Yesterday’s Losers
Name | Volume | Open $ | Low $ | High $ | Last $ | Change $ | Change |
TOURISM LEISURE | 1,500 | 1.200 | 1.200 | 1.200 | 1.200 | -0.04 | -3.22% |
HOMELOANS FPO | 10,000 | 0.505 | 0.505 | 0.505 | 0.505 | -0.015 | -2.88% |
MFS LIVING STAPLE | 197,716 | 0.780 | 0.765 | 0.780 | 0.765 | -0.015 | -1.92% |
ABC LEARNING CTR | 1,173,024 | 6.440 | 6.310 | 6.470 | 6.390 | -0.11 | -1.69% |
WATPAC LIMITED | 45,124 | 2.450 | 2.410 | 2.450 | 2.410 | -0.04 | -1.63% |
ASPEN GROUP | 79,717 | 1.775 | 1.750 | 1.775 | 1.750 | -0.025 | -1.41% |
FKP LTD |
