Leighton Holdings Limited (ASX:LEI) has confirmed it is on track to deliver an after tax profit of between $600 million to $650 million in the 2012 financial year.
The property developer has also advised that it expects its first half operating profit to reach $250 million, excluding the $163 million after-tax capital gain from the recent sale of its HWE Iron Ore business to BHP Billiton Limited (ASX:BHP).
In an update to shareholders today Leighton says it has around $44 billion of work in hand and maintains a positive outlook for the business.
The upbeat forecast comes after the company swung from a profit to net loss in fiscal 2011.
In the 2011 financial year Leighton Holdings reported a net loss of $406 million.
LEI Price at posting:
$21.10 Sentiment: None Disclosure: Held
