LEI

Leighton Holdings (LEI) shares jumped as high as 4 per cent or 82 cents to $21.35 in trading this morning after the Australian contractor upgrades its profit guidance for the first half. This is a result from the improved earnings that its Australian and Asian operations incurred.

This record contains the top 10 best and worst traded stocks in the ASX100, ASX 200 and All Ordinaries of the Australian Stock Exchange in the 50th week of 2011, from December 12 to 16, 2011.

Best Performing Trade Stocks ASX100 (XTO)

ASX100

Construction giant Leighton Holdings (ASX:LEI) faces class action from its shareholders today regarding the company's downgrades and write-downs on major projects.

Leighton said in February it expected to report a profit of almost $500 million, which was then downgraded to a loss as shares dropped about 14 percent. The company blamed the downgrade on cost blowouts, delays at Victoria's Wonthaggi desalination plant and problems with Brisbane's Airport Link.

The shock exit of Leighton's (ASX:LEI) chairman and CEO last week is just the start of a series of changes expected in senior management. The exodus has left a trail of huge termination payments that angered investors.

Leighton Holdings (ASX:LEI) is shooting for the stars to lift its net profit by $1 billion over the next four years. Leighton chief executive David Stewart is "very confident" the group could post at the upper end of its net profit guidance of between $600 and $650 million.

The market was paying attention as shares jumped 8.3 percent after the company posted results and gave assurance it would easily bounce back into the black this year.

Leighton Holdings (ASX:LEI) finalised a $1.85 billion construction deal in South Australia. The company will design and construct the Royal Adelaide Hospital in a joint venture worth $900 million. The project is expected to begin within months and scheduled for completion by 2016.

Leighton is one of the five private equity investors in the said project which is a fully underwritten Public Private Partnership.

Leighton Holdings' (ASX:LEI) former chief executive officer Wal King has denied that he is seeking a position with the contractor’s board and neither has he been offered any position.

The statement comes amid speculations that Spain's construction company ACS wants King to be non-executive director. ACS is poised for a takeover of German Hochtief, who owns majority of Leighton.

Chief executive David Stewart said that staff shortage will be a hindrance to the company's growth. He urges the country to boost immigration to meet the lack of skilled labour force. Leighton Holdings' (ASX:LEI) is quickly reaching its target of acquiring 60 billion of work, but the shortage of skilled workers is the biggest problem that the company is facing.

For the nine months to end of March, Leighton Holdings (ASX:LEI) has announced a loss of $382 million, but the company expects to regain profitability in 2011/2012. A loss after tax of $427 million is also expected for the 2010/11 year, with results in line with the guidance.