preliminary final report & june quarterly update - Leighton Holdings

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Notes continued for the year ended 30 June 2011 5. SEGMENT INFORMATION CONTINUED Description of segments Operating segments have been identified based on separate financial information that is regularly reviewed by the Leighton CEO, the Chief Operating Decision Maker (“CODM”). The Leighton Group is structured on a decentralised basis comprising the following main operating companies and a corporate head office: • Thiess • Leighton Contractors • John Holland • Habtoor Leighton Group (“HLG”) • Leighton International • Leighton Asia • Leighton Properties The performance of each operating company forms the primary basis for all management reporting to the CODM. HLG has been disclosed as a separate segment to Leighton International since 1 July 2010 as its performance is reported separately to the CODM. Accordingly, segment data for the prior period presented for comparative purposes has been restated to reflect the newly reportable segment as a separate segment in accordance with AASB 8 Operating Segments. The types of services from which segments derive revenue, are included in note 2: Revenue. The Group’s share of revenue from joint ventures is included in the revenue reported for each applicable operating company. Performance is measured based on segment result. Information regarding the results of each reportable segment, as reported to the CODM, is included on pages 13 to 14. The corporate segment represents the corporate head office and includes transactions relating to Group finance, taxation, treasury, corporate secretarial and certain strategic investments. Plant and equipment leased under operating lease facilities of $0.9 billion (2010: $1.2 billion) is included in segment assets with a corresponding amount in segment liabilities. Other than this, differences in the reporting for management and financial accounting are individually and in total, not material. These differences are contained in the results of the corporate segment and include: • Interest capitalised on property developments held indirectly through joint ventures and associates; and • Adjustments for tax on earnings from equity accounted investments, as earnings from equity accounted investments are reported on a pre-tax basis in the applicable operating company. Geographical segments In presenting information on the basis of geographical segments, segment revenue is based on the geographical location of the customer and the location of the service provided. Segment assets are based on the geographical location of the assets. Major customers No revenue from transactions with a single external customer amount to 10% or more of the Group’s revenue. Leighton Holdings Limited Appendix 4E and Consolidated Preliminary Final Report for the Year Ended 30 June 2011 15
Notes continued for the year ended 30 June 2011 6. DIVIDENDS Cents per share $m 2011 final dividend No final dividend has been declared by the Company in respect of the year ended 30 June 2011 nil nil Dividends recognised in the reporting period to 30 June 2011 2011 interim ordinary dividend 100% franked paid on 31 March 2011 60.0 181.7 2010 final ordinary dividend 100% franked paid on 30 September 2010 85.0 255.6 437.3 Dividends recognised in the reporting period to 30 June 2010 2010 interim ordinary dividend 100% franked paid on 31 March 2010 65.0 195.2 2009 final ordinary dividend 100% franked paid on 30 September 2009 55.0 164.0 359.2 7. NET TANGIBLE ASSET BACKING June 2011 June 2010 Net tangible asset backing per ordinary share $6.43 $8.13 8. CASH AND CASH EQUIVALENTS 2011 $m 2010 $m Funds on deposit* 603.9 686.5 Cash at bank and on hand 810.8 627.2 Total cash and cash equivalents 1,414.7 1,313.7 * Funds on deposit include US$96.1 million (30 June 2010: nil), equivalent to $89.8 million (30 June 2010: nil), which has been pledged as security against borrowings by Habtoor Leighton Group (“HLG”) under a US$136.1 million loan facility, equivalent to $127.2 million. A letter of credit has been pledged as security against the remaining US$40.0 million, equivalent to $37.4 million. In addition US$46.3 million (30 June 2010: nil), equivalent to $43.3 million (30 June 2010: nil), has also been pledged as security against borrowings by HLG under a second US$136.1 million loan facility, equivalent to $127.2 million. Subsequent to the reporting date a further US$10.9 million, equivalent to $10.2 million, has been pledged as security against the second facility. The cash security is expected to be released within the next 12 months. Leighton Holdings Limited Appendix 4E and Consolidated Preliminary Final Report for the Year Ended 30 June 2011 16
Page 1 and 2: 2010/11 PRELIMINARY FINAL REPORT &
Page 3 and 4: Results for Announcement to the Mar
Page 5 and 6: Commentary on the Results continued
Page 7 and 8: Consolidated Statement of Comprehen
Page 9 and 10: Consolidated Statement of Changes i
Page 11 and 12: Notes to the Consolidated Prelimina
Page 13 and 14: Notes continued for the year ended
Page 15: Notes continued for the year ended
Page 31 and 32: Financial Highlights 30 June 2011 3
Page 33 and 34: The Company raised $758 million in
Page 35 and 36: The poor financial performance of t
Page 37 and 38: Production at existing mines in Que
Page 39 and 40: invested in the offshore constructi
Page 41 and 42: construction work done is expected
Page 43 and 44: Operational Analysis Operating Reve
Page 45 and 46: • $541m for contract mining servi
Page 47 and 48: • $75m for construction of a prod
Page 49: • Deer Park: Leighton Properties

preliminary final report & june quarterly update - Leighton Holdings

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