Opus cautious over growth prospects

Opus Consultants Limited held their annual general meeting yesterday in Wellington. Opus had previously reported a decrease in net profit after tax and a smaller dividend to shareholders. One of the silver linings was the company’s strong performance in Canada, spurred in part by their NZ$53m acquisition of Stewart Weir.

Some of the highlights and future projections included:

More opportunities in the New Zealand market as the rebuild begins to take shape

  • Private and local body spending remains tight
  • Pacific islands were providing a number of new roading opportunities
  • Australia was proving tough, although Opus Rail in Western Australia and Queensland was performing well

Opus shares are currently trading at $1.92 having dropped 11.5% since the beginning of February this year.

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