CIMIC begins year with 7% profit growth

Engineering giant CIMIC has reaffirmed its full-year profit guidance after lifting first-quarter profit seven per cent to $172 million.

The company says it expects a net profit of between $720 million and $780 million in 2018, after revenue rose seven per cent in the three months to March.

CIMIC said it has $35 billion worth of work in hand, and there is nearly $100 billion worth of tenders to be bid and awarded during the rest of the year.

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