SYDNEY, Aug 19 (Reuters) - Shares in Australia’s Monadelphous Group rose as much as 6.8 percent in early trading on Tuesday after the diversified services company reported a forecast-beating net profit for the full year ending in June.
The company, which operates in the resources, energy and infrastructure sectors, reported a 6.3 percent drop in full year profit to A$146.5 million ($136.54 million). However, that still beat analysts’ forecast of A$137.5 million, according to Thomson Reuters I/B/E/S.
At 1219 GMT, shares in Monadelphous, which has a market capitalisation of $1.33 billion, were trading at A$16.18, up 4.72 percent. The benchmark S$P/ASX 200 index was up 0.32 percent. ($1 = 1.0730 Australian dollar) (Reporting by Swati Pandey; Editing by Paul Tait)