LEI has been one of the shares to sell since announcing a profit warning last November.
On 14 February, LEI reported a fall in 1H11 net profit to $216.7 million, down 25% from 1H10’s $288.9 million.
Excluding the sale of its 35% stake in Indian-based Welspun Corp, LEI would have reported a profit of just $14.7 million.
Leighton Holdings attributed the weak result to wet weather in Queensland impacting some of its mining projects, a stronger Aussie dollar, and a write-down of its 45%-owned Habtoor Leighton Group in Dubai.
The group declared an interim dividend of 60 cents a share, down from 85 cents a year earlier.
The result, which missed analyst estimates, resulted in LEI downgrading its full year guidance by 5.8% to $480 million.
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