14 Aug 2013

Opus expecting better second half

6:57 am on 14 August 2013

Opus International Consultants is expecting a much better second half after a noticeable pickup in its second quarter.

Chief executive David Prentice said he sees particular opportunities for the engineering firm in the area of asset management.

"The four countries that we're in are four fairly developed countries who perhaps over the last two or three years have had various austerity measures in place," he said.

"But they still need to maintain and manage their assets, so what we're finding is that asset management is becoming more and more important to a lot of local and central governments in each of the countries, and we're starting to pick up a number of opportunities right around the globe."

Lower council spending and the impact of Mainzeal's collapse, which cost the company about $500,000, led to its first-half net profit falling 12.5%.

Net profit for the six months ended June fell to $9.4 million compared with $10.8 million in the same six months last year.

But Opus operations in Britain, Australia and Canada all delivered improved performances, with Britain and Australia returning to profit from losses in the first-half last year.