WorleyParsons Limited
(ASX:WOR) has reported a slump in statutory net profit to $23.1 million from $104.3 million in the six months to 31 December 2015, which the company says was impacted by one off non-trading items.
The result includes $86.8 million in charges for redundancy, onerous lease and onerous engineering software licenses.
The company says conditions remained challenging, dominated by the low oil price and generally subdued commodity prices across the energy and resources sectors.
It also added that its overhead reduction program will deliver savings of around $80 million in FY2016.
As one of the initiatives to strengthen its balance sheet, the company announced that no interim dividend would be paid.
