Coffey tips record profits

The forecast earnings for the six months ended December 31, 2008 represent a significant increase to the $18.3 million operating profits reported for the second half of 2007.Coffey International managing director Roger Olds said the company’s diversification and expanding geographic footprint played a part in its strong forecast results.“While Coffey has been impacted by the downturn in the mining sector, our diversification strategy has allowed us to benefit from the worldwide government expenditure on international aid and infrastructure programs,” Olds said in a statement.Coffey will release its results for the second half of 2008 on February 27.Shares in Coffey gained nearly 14% in intra-morning trade, lifting from $1.22 to $1.39.

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