Transfield Services Limited (ASX:TSE) has swung to a full year net profit of $84.8 million compared to a net loss of $19.7 million the year before.
The construction and maintenance firm says focusing on improving capital management systems and business efficiencies aided its results.
Looking ahead, Transfield expects its full year 2013 profit to be at the lower end of guidance of between $125 and $135 milllion.
Transfield Services declared a final unfranked dividend of 9 cents per share.
Separately, the company also advised its Chief Executive Peter Goode will be stepping down effective late next month. He will be temporarily replaced by non-executive director Graeme Hunt until a permanent replacement is found.
TSE Price at posting:
$1.92 Sentiment: None Disclosure: Held
