UGL first half report due

Company News

UGL Limited (ASX:UGL) will report first half results for Fiscal 2014 today. It’s been an eventful year for the diversified manufacturer with engineering chief Russell Waugh stepping down in October due to his alleged connection to a bribery scandal involving his former employer, Leighton Holdings Limited (ASX:LEI).

UGL also inked an agreement for a five-year contract to provide maintenance services to Chevron Australia, which also included extension options beyond the initial term. The company has also been eyeing a demerger with property arm DTZ this year. The report is due as further allegations of unfair dismissal against the company are due to be heard in a US court.

UGL generated a net profit of $41.7 million in fiscal 2013.

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