30 Sep 2014

Big boost in profit for Fulton Hogan

8:08 am on 30 September 2014

Privately-owned infrastructure company Fulton Hogan has reported a 43 percent jump in full-year net profit, but the strong New Zealand dollar weighed on its revenue.

The Christchurch-based company made a $138.2 million profit in the 12 months ended June, compared with $96.5 million last year.

Fulton Hogan employs more that 5400 people throughout New Zealand, Australia and the Pacific, and just under two-thirds of its revenue comes from Australia.

Group revenue fell 11 percent to $3.24 billion, due to the effect of the currency.

Fulton Hogan managing director Nick Miller said this was offset by savings across the business.