Global Construction sees strong year growth

Global Construction Services achieved a net profit of $11.4 million in 2009-10, representing earnings per share of 13.1¢. This only represented growth of 5.4 per cent, but the company is expecting a strong year in 2010-11 with earnings before interest and tax increasing by 40 per cent.

After the company delivered its interim results, Bell Potter Securities said that Global Construction Services was “seriously underestimated". The company’s full-year net profit was 8 per cent ahead of the broker’s forecasts and it is highly possible that estimates for 2010-11 will be revised.