CIM CIMIC Group Limited

   By Rhiannon Hoyle 
 

SYDNEY--Australian construction company and contract miner Cimic Group Ltd. (CIM.AU) named Adolfo Valderas as chief executive, while also reporting an increase in quarterly cash flow.

Cimic said on Wednesday Mr. Valderas, currently Deputy Chief Executive Officer, would take the helm with Marcelino Fernández Verdes, currently CEO and Executive Chairman, to continue in the latter role.

The company separately said it recorded cash flow of 532.9 million Australian dollars (US$409 million) in the three months through September, up 7.3% on-year. It reiterated an earlier projection of A$520 million-A$580 million in net profit for 2016.

Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

(END) Dow Jones Newswires

October 18, 2016 18:16 ET (22:16 GMT)

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