INTERNATIONAL COAL NEWS

UGL breaks more records

ENGINEERING company UGL has posted its 10th consecutive year of record earnings and has boosted n...

Kristie Batten

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Underlying net profit was up 9% to $164.4 million on revenue of $4.58 billion, a 5% rise.

Earnings before interest and tax were $249.4 million and earnings per share were 99c.

The company declared a final dividend of 38c per share, taking total dividends for the year to 70c, a new record.

During the year, UGL secured over $4 billion of new projects and contract extensions and the company’s order book stands at $8.2 billion.

The company added that it had over $1 billion of work at preferred tenderer stage and $7.7 billion of opportunities in the pipeline.

UGL’s resources division generated EBIT of $44 million on revenue of $959 million and the company won new contracts in coal, iron ore and alumina.

The company is expecting further growth in the current financial year, but has not provided guidance due to current market conditions.

Shares in UGL fell 28c to $12.22.

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