BrisConnections anticipates $1.88 billion capitalised costs
Construction firm BrisConnections Unit Trusts (ASX: BCSCA) said on Tuesday that it is expecting a full year capitalised construction and financing costs of $1.88 billion and basing on its latest report, the company is also revealed a capitalised costs of $551 million covering the first six months of 2010.
The company currently works on building projects in the Brisbane Airport and northern suburbs tollroads, which BrisConnections said are mid-way to completion with about half of the airport link almost done.
BrisConnections also reported that its construction undertakings on the Northern Busway have all been wrapped up while upgrade works on Brisbane Airport's roundabout was also completed as scheduled.
The company is currently composed of a management company, investment trust and holding trust as it announced that its expected full year net profit should range between $15 million to $19 million.
BrisConnections said that the projected net profit would mostly come from interests earned from the company's cash reserves, which it admitted would slowly be depleted in the event that further expenditures would be required for its construction projects.