Construction giant Leighton Holdings has bounced back, lifting underlying profits by 30 percent and as cost reduction strategies drove margin improvements and gains in work on LNG projects contracts helped offset declining work in mining.

In its latest announcement, the company said its underlying net profit after tax for the twelve months ended December 31 rose by 30 percent compared with the previous year to come in at $584 million, whilst its statutory net profit after tax (including significant one-off items) of $509 million was…