Transfield drops profit guidance by 23%

Transfield Services (ASX: TSE) has dropped down its full-year profit guidance by 23% after beginning a trading halt yesterday.

The company now expects 2012 financial year net profit after tax, and before amortisation, to be $105 million – down from the $130-135 million predicted in February.

Shares in Transfield plunged after the announcement and were trading down 12.65% to $2.175 at 11.40am.

The new profit guidance allows for $9 million of extreme weather impact and a $16 million legacy construction contract provision.

The company says it will also restart its share buyback.

Transfield expects to grow its order book, now standing at $11 billion, with about $650 million in new contracts expected in the coming weeks.

Transfield provides operations, maintenance and construction services in 12 countries, employing more than 27,000 people.


Notify of
Inline Feedbacks
View all comments
SmartCompany Plus

Sign in

To connect a sign in method the email must match the one on your SmartCompany Plus account.
Or use your email
Forgot your password?

Want some assistance?

Contact us on: or call the hotline: +61 (03) 8623 9900.