Coffey achieves 44% profit growth and completes eight acquisitions in the year

Profit after tax and before amortisation and share based payment expenses related to acquisitions was up 42% to $19.0 million.

The directors have declared a fully franked final dividend of 8 cents per share, bringing the full year dividend to 15 cents per share, up 15% on the 13 cents per share in the previous year.

The Directors have determined that the Company’s dividend reinvestment plan will again be available at a 5% discount, and the dividend will be paid on 31 October 2007.

Commenting on the record result, Managing Director Roger Olds said, “This is a great result given everything we achieved during the past year. We have really got the international expansion underway with entry into New Zealand, Sub-Saharan Africa, and the United States.

Further we have managed to grow our staff numbers from 1,700 to 2,500 at a time when resources are in high demand.

We have managed to blend strong organic growth of 17% with eight acquisitions in FY07. These comprise five consulting businesses and three project management businesses, broadening our international footprint and bolstering our specialist businesses into strong leadership positions,” he added.

A further two consulting acquisitions, in the rail and strategic advisory sectors, have been completed since year end.

The Company remains focused on its multi-specialist consulting model and expects profit growth in all its businesses in 2007-08. The market outlook remains strong with investment in the physical infrastructure and resources markets expected to be significant for the foreseeable future.

The Company has many acquisition opportunities in the pipeline, some of which are at the advanced negotiation or due diligence stage and the directors will update the market as and when such opportunities crystallise into transactions.

Results Summary