14 Feb 2012

Opus International boosts full-year profit

6:38 pm on 14 February 2012

Listed infrastructure consulting company Opus International has lifted its full-year profit thanks to strong performances in its New Zealand and Australian markets.

The company made $24.5 million in 2011, almost 12% up on the 2010 year.

Revenue rose 7% to $398 million.

Opus chief executive David Prentice says revenue and earnings continue to grow in New Zealand and Australia and profits have also improved in Canada after the company took onboard the wastewater and environmental engineering firm, Opus DaytonKnight.

But he says the global recession and tough government austerity measures are making trading conditions tough in the UK, with Opus recording a loss of $1.2 million in that market during the year.

Dr Prentice says, however, that Opus has been able to pool its resources as a global business and used its "excellent resources" in the UK to help out in the busier areas of the business elsewhere, and particularly in Christchurch.

He says some staff have come over from the UK to help out and work has also been packaged up and sent to the UK to be done.

Dr Prentice, says despite the challenging conditions in some economies, it's been a successful year for the company, and it has a strong cash position.

Opus had declared a final dividend of 4.7 cents a share.

This takes the total dividend to 8.5 cents a share, more than 10% up on the 2010 year.