Global Construction Services requested a trading halt on Monday morning pending a relatively large acquisition and an associated capital raising. Management said the acquisition was expected to generate revenue of about $60 million in 2010-11, with normalised earnings before interest, tax, depreciation and amortisation of $8.2 million.

While the proposed capital raising will have a negative impact on earnings per share, the company said the acquisition would be earnings per share accretive in 2011-12. Management also upgraded its profit guidance for 2010-11 from $17 million to $19 million.