MAH 2.08% 23.5¢ macmahon holdings limited

sees lower revenue growth

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    Sydney - Friday - November 7: (RWE Aust Business News) - Macmahon
    (ASX:MAH) expects growth in revenue will be lower for 2009, at 10-20 per
    Chief executive Nick Bowen told the AGM today that, previously,
    the company was targeting annual growth in the range of 20-30pc.
    "we now believe that growth this year will be more likely in the
    range of 10 to 20 per cent," he said.
    "We currently have some $1.3 billion of work already secured for
    2009 and where we finish in June next year will depend on our success in
    securing new work in the next two to three months.
    "At 10 to 20 per cent growth our full year profit would be in the
    range of $54-58 million."
    The half year profit split is likely to be around 40pc first half
    and 60pc second half because of the timing of new work and the Ausdrill
    transaction costs, he added.
    "Despite the current economic climate, Macmahon is still a
    growing company, with excellent long-term prospects and we expect to see
    growth maintained in future years," Mr Bowen said.
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