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Forge forecasts 26% pre-tax profit growth

Forge forecasts 26% pre-tax profit growth

Construction and engineering services provider Forge Group (ASX:FGE) has estimated an up to 26% rise in pre-tax profit for the half-year ending in June.

The Forge board forecast profit before tax of between $25 million and $27 million, from the previous corresponding period's $21.4 million.

Forge also estimated revenues of around $200 million for the half-year. This compares to revenue of $112 million in the first half of last financial year, and $247 million for the whole of FY10.

The company earned $203.6 million in revenue in the first half of the financial year. Net profit grew 43% to $21.2 million.

In FY10, net profit was $29.5 million, from revenue of $247 million and ebitda of $44.9 million.

Forge's operating subsidiaries include Cimeco, which provides construction services to the resources industry, Abesque Engineering, which offers mining and mine development services, and Webb Construction West Africa.

FGE shares grew 3.56% in Friday's trading to $6.400.

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Tags GuidanceASX:FGEForge Group

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