Legend profit grows nine per cent

Legend Corporation has reported a half yearly net profit after tax of $3.4 million, and increase of nine per cent on the previous corresponding period.

The Australian-based engineering solutions provider services electrical, IT, semiconductor, medical and power utilities industries mainly in Australia and New Zealand.

Legend CEO, Brad Dowe, said he was pleased to report a profit increase.

”Our Business strategy of providing very high service levels backed by a comprehensive range offering of products that are proven to meet Australian and New Zealand standard requirements, has again proven its value.”

The group reported revenue of A$52.5 million, up two percent on the same time the previous year. Legend said that overhead costs were down seven percent on the previous corresponding period.

The company also reported a four per cent drop in gross profit from the same period the previous year. Legend cited the impact of the lower Australian dollar on imported goods as the major contributing factor.

“Indicators for our traditional core markets of residential and commercial construction point towards growth for some years to come with more than half of our business levered to this rising market,” Dowe said.

The CEO also commented that the company was well positioned for future growth due to a pipeline of new products and opportunities.