Auburn. $212 million to capture growth

The Auburn-based Hastie Group, an international designer, installer and maintainer of technical services to the building and infrastructure sectors, recorded a half-yearly profit of $23.5 million. Hastie said it was well placed to take advantage of the economic recovery in Australia and its key overseas markets. Hastie, with operations in Australasia, UK and Ireland, and the Middle East, said it has undrawn term debt facilities of $121 million, providing the financial flexibility to capture growth opportunities.

Silverwater. Hastie Group's profit down

The Hastie Group, at Silverwater, which provides technical services to the building and infrastructure sectors, has reported a net profit of $21.6 million for the six months to December 31, down from $31.8 million in the previous corresponding period. The 32 per cent fall in first-half net profit was due to the global downturn. “In Australia we are seeing an upturn in tenders, with greater signs of activity in the resource-rich states of Queensland, Western Australia and South Australia,'' said CEO, David Harris.