Revenues climbed to $785 million, up 9 per cent on the previous year with predictions they may even exceed $1 billion this year. "We are forecasting substantial growth in 2002-2003, with group revenue exceeding the billion dollar mark for the first time in the company's history," said Clough managing director, Dr Brian Hewitt.
Dr Hewitt said the real driver for Clough was the oil and gas market. "With world oil prices holding above $US25 a barrel, we see further opportunities in the oil and gas sector, particularly in Indonesia, Thailand, Vietnam, the subcontinent, on the North West Shelf and in the Bass Strait in Australia," he said.
Clough's overseas operations contributed 64% of the group's revenues in 2001-2002, up from 61 per cent last year, reaching $501.8 million. Australia turnover was $283.1 million.
Dr Hewitt added Clough was well placed to benefit from developments in the LNG industry coming from the North West Shelf Project. He said the company would look for business coming from the gas production and processing facilities or "trains".
