13 Aug 2009

Opus profits fall 44%

3:19 pm on 13 August 2009

Opus International says its half year profit has fallen as the economic downturn has crimped its businesses in the United Kingdom and Australia.

The infrastructure consultancy firm's profit decreased 44% to $5 million in the six months to the end of June.

Opus says its private sector clients in the UK and Australia have been badly affected by the recession and its businesses there reported pre-tax losses.

The company has cut jobs to cope with the downturn and expects to meet expectations of a full year profit of between $15 million to $17 million.

Opus says its businesses in New Zealand and Canada appear to be stable.