The Cimic Group Ltd (ASX: CIM) share price continued its stellar run on Wednesday and reached a new multi-year high of $48.86.
This brought the international contractor and contract miner's year-to-date return to almost 40%.
Why did its shares climb higher?
This morning Cimic released its third-quarter update which revealed that year-to-date its revenue is up 26% on the prior corresponding period to $9.6 billion.
According to the release, all of the company's core business have contributed strongly to the impressive top line growth.
Net profit after tax for the three quarters came in even stronger at $501 million. This was a 21% increase year-on-year.
Looking ahead, management has confirmed its full-year net profit guidance of between $640 million and $700 million, subject to market conditions.
