Industrials Stocks News Leighton Holdings (LEI)

Leighton Holdings LEI | ASX LEI | Industrials StocksLeighton Holdings (LEI) is one of the world’s major contracting, services and project development organisations, and also the world’s largest contract miner.

LEI owns six diverse and independent companies: Thiess, Leighton Contractors, John Holland, Leighton Asia, Leighton International and Leighton Properties and has significant interests in Al Habtoor Leighton Group, Devine and Sedgman.

LEI announced massive write-downs of its assets just over a month ago, and it has been one of the shares to sell since October last year.

On 16 May, LEI said it expects to resume dividend payments in FY12 despite reporting an unaudited $382 million loss for the nine months ending March 31.

The group forecast an FY11 net loss of $427 million, although it anticipates a $600 million – $650 million profit for the FY12.

Leighton Holdings based its optimistic guidance on a positive macroeconomic outlook, underpinned by increased infrastructure spending in Australia.

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