Coffey International Ltd, the Australian geoscience consultant and development contract manager, has announced a profit after tax of AUS$2M (US$1.5M) for the six months ended 31 December 2003 on a turnover of US$41M. Managing director, Roger Olds, said “we are well on track to achieving our projected 5-10% earnings growth for this financial year and 50% growth over the three years from 2004 to 2006”. During the 2002/03 financial year, Coffey revenue was split 35% in Australia, 35% in South East Asia, 19% in the Pacific and 11% throughout China, Sri Lanka, India and the Middle East. Olds said: “The Consulting Business has had an outstanding first half in a buoyant market, delivering record results (a 54% increase in profit before tax compared with the same period last year), and this performance is expected to continue in the second half of the year”.
