AUSTRALIA

Ichthys woes slam UGL bottom line

PROFIT reporting season rolled on again yesterday with Sydney-based services firm reporting a loss of $236.4 million, with the company recording a $122.5 million provision on the troubled Ichthys combined cycle power plant project.

Haydn Black

While UGL pointed to an underlying net profit after tax of $30.3 million, it couldn't hide its Inpex-related woes, $82 million in impairments or historical project claim settlements, a $63 million writedown...

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