The meeting at Perth's Parmelia Hilton was remarkably amiable as shareholders gave the company directors a round of applause, and managing director Brian Hewitt confirmed the contractor was confident it would post a full-year profit after an expected interim loss.

However, some shareholders queried the timeliness of the profit warning released to the Australian Stock Exchange on Monday.

It was suggested that some investors knew of the warning before its release, and trading took place based on that knowledge.

Managing director Brian Hewitt said an analyst had approached the ASX on the issue, but Hewitt did not believe anything untoward had taken place.

All the directors were re-elected to the board at the meeting, and a motion to increase total directors' fees to $600,000 from $200,000 was passed, with a number of dissenting votes.

Clough said there would be a shake-up of the board, but Hewitt denied he had, or planned to, offer his resignation.

"We are looking at both the directors and the executives and there will be changes. This is something the board will be considering," he said.

Clough said the company remained on track to post a profit for the year. The stock gained 10% to close at 50c, trading as high as 54c during the day.