25 Feb 2013

Opus earnings squeezed

7:06 am on 25 February 2013

Christchurch's rebuilding may be picking up pace, but belt tightening among councils in other parts of the country are putting the squeeze on Opus International Consultants' earnings.

Profit for the infrastructure consultancy and asset management film fell 5% to $23.4 million in 2012, due in part to a sharp decline in part of Australia's economy, which offset record earnings in New Zealand.

Rebuilding of roads and other infrastructure in Christchurch helped fuel growth and chief executive David Prentice said that while the South Island's largest city will continue to provide more work, council spending elsewhere is drying up.

He said the company is looking for continued growth in the UK and its Canadian operations, along with a significant improvement on the bottom line of its Australian operations.