Leighton Holdings, Australia’s biggest construction company, said profit will rebound from its first decline in five years, driving its shares to a 10-month high in Sydney trading.

Net income may rise to about A$600m in the year ending June 30, similar to 2008’s record earnings, Wal King, chief executive officer of the Sydney-based company, said today in a statement.

King flagged profit and sales growth to resume in 2011 as mining and construction recover across Asia and the Middle East. Australia, the company’s biggest market, has pledged to spend A$22 billion on roads, ports, railways, schools and hospitals.

bloomberg.com