Tax benefits helped engineering contractor Calibre Group report a 10 per cent hike in net profit to $24 million.
Calibre said a net R&D tax benefit of about $12 million drove the profit outcome.
The group's revenue of $709 million was barely changed from the year before. Earnings before interest, tax, depreciation and amortisation fell 14 per cent to $45 million.
Calibre said revenue increases in infrastructure and consulting had offset a 37 per cent recline in resources income.
"It is pleasing to achieve a sound result at this point in our transition," managing director Peter Reichler said.
"Calibre's strong client relationships, increasingly diversified revenue profile and flexibility sharpens our responsiveness to the tight trading conditions," Mr Reichler said.
"We have a clear strategy to diversify our revenue base by entering new markets and regions and by broadening our commodity exposure and client base."
Calibre said it expected tight market conditions to continue, characterised by client capital expenditure constraints and client focus on costs placing pressure on margins.
"Across our segments we expect growth in consulting, consolidation of the growth achieved in infrastructure and some moderation in resources," the company said.
"With the changes in the business mix and timing of major project delivery, Calibre expects a stronger skew to revenue and earnings in 2H15 compared to previous years."
Calibre will pay a final dividend of 2.5 cents a share.
Its shares were down 1 cent to 47 cents at 11.20am.