Writedowns push UGL to loss, CFO resigns

Company News

UGL Limited (ASX:UGL) has booked an interim loss due to hefty writedowns and announced the resignation of its chief financial officer.  

The engineering company posted a first half net loss of $122.5 million, swinging from a profit of $29.5 million the year before. 

Looking ahead the company has affirmed its annual revenue guidance of $2.4 billion but says it will not pay an interim or final dividend. 

Current CFO Robert Bonaccorso will step down on March 13 and incoming CFO Ray Church will start with the company this Wednesday. 

A further market update has been planned for May 2015.