Worleyparsons Ltd
(ASX:WOR) has reported its full-year underlying NPAT fell 37% to $153.1 million last financial year.
The engineering company also says its aggregated revenue was down 18.5% to $5.9 billion.
The company says it has been focusing on its cost reduction program and lowering overheads, which helped to mitigate against its lower revenues.
Despite “difficult market conditions” and “ongoing weakness in commodity prices”, the company expects to win new project work – in addition to the 85 contracts that it secured during the financial year, worth $2.8 billion.
The company will not be paying its shareholders a final dividend.
