Construction and engineering company, CAC 2000, has returned to profitability in its latest quarter, reporting a net profit of $3.7 for the three months ended April 30.
The company says the improved performance was driven by stronger margins and tighter cash management.
However, for the six-month period, CAC 2000 recorded a net loss of $69.8 million, representing a 24.4 per cent increase in losses, compared with the same period last year.
Revenue for the half-year stood at $226.1 million, representing a decline of almost 48 per cent year-over-year.
CAC 2000 says the lower revenue reflects prevailing market conditions and its continued focus on maintaining credit quality while prioritising cash-generating activities.
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