Heijmans earnings over the first half of 2005 correspond to expectations given earlier. Earnings from operations in the sectors have risen by 12%. The owner-occupied housing sector experienced continued growth, while building and infrastructure activities also showed an increase in profits.
Net profit improved to 35 million (23 million in the first half of 2004) partly due to extraordinary gains. Net profit for the whole of 2005 of approximately 85 million (an increase of 21% compared to the 70 million IFRS profit in 2004 before extraordinary charge) is expected to come out equal to earlier forecasts. With this, profit per share will amount to approximately 3.60.
"Heijmans sees the chance to generate growth by successfully taking advantage of the slight improvements in the market. Real price improvements are not yet in sight," according to Chairman Guus Hoefsloot. "Good quality design and approach as well as product innovation and certainly process innovation make the full service strategy we are deploying increasingly recognisable to our customers."
Source: Heijmans
