WorleyParsons Profit Up 18% On Strong Resources, Energy Markets
28 Febrero 2012 - 5:37PM
Noticias Dow Jones
WorleyParsons Ltd. (WOR.AU) Wednesday posted an 18% increase in
first-half profit on continued strength in the global resources and
energy markets, but cautioned that cost increases and project
delays were impacting margins.
Net profit rose to A$151.9 million (US$163.6 million) in the six
months through December from A$128.6 million the year before on the
back of an 18% increase in revenue to A$3.3 billion from A$2.8
billion, the Australian petroleum and mining services company said.
It added that it expects healthy growth in its 2012 underlying
earnings over the year before.
WorleyParsons said it took a A$10.1 million hit in the first
half from translating earnings in weaker currencies into Australian
dollars. The year-earlier profit figure also included an accounting
gain of A$9.4 million, without which profit would have climbed
27%.
"Strong capital spending by our major global customers
underpinned the growth in our key markets of hydrocarbons and
minerals and metals during the period, while the smaller customers
in both sectors were experiencing project delays as available funds
tightened," Chief Executive John Grill said.
The company secured a number of contracts with companies
including BHP Billiton Ltd. (BHP), ExxonMobil Corp. (XOM) and Oman
Oil Co. during the six-month period.
WorleyParsons forecast improved earnings in its petroleum
division in the second half of the year, with the industry's focus
on natural gas projects expected to rise and crude oil development
opportunities remaining healthy based on reasonable strength in oil
prices.
It also said earnings are likely to improve in the power, metals
and minerals, and infrastructure sectors of its portfolio in the
second half of the financial year.
WorleyParsons plans to pay an interim dividend of 40 cents a
share, compared with 36 cents the year before.
-By Robb M. Stewart, Dow Jones Newswires; +61 3 9292 2094;
robb.stewart@dowjones.com
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