Leighton boost leads to optimism

Wal King, CEO of Leighton Holdings has said the company's order book is now approaching AU$ 40 billion (US$ 35 billion).

Orders at 30 June totalled AU$ 37 billion (US$ 32 billion), up +22% on the AU$ 30 billion (US$ 26 billion) reported at the same time last year, but down on the record AU$ 37.5 billion (US$ 32.6 billion) recorded on 31 December 2008.

"There was a lot of speculation about cancellations and the like and there were cancellations and cutbacks," he said. "Since the end of June this year however, there has been a raft of new projects.

"The momentum has changed from last year," said Mr King. "Very strong headwinds last year turned to neutral winds in about April and now we are in a position where tailwinds have once more emerged," he said.