UGL on track for FY16 guidance

Company News


UGL Limited (ASX:UGL) says that it is on track to deliver on FY16 guidance of $2.3 billion revenue with EBIT margin guidance of 3 per cent. 
 
First half net profit came in at $18.5 million from operating revenue of $1.2 billion, that equals the previous first half revenue. 
 
A NorthConnex contract will help offset lower revenue in engineering and construction with lower revenue in rail and defence. 
 
The company will not declare a dividend for the 2016 financial year with margins hopefully returning to 4% in the 2017 financial year as the business turnaround is achieved. 

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