UGL FY net profit up 70%

Company News

UGL Limited (ASX:UGL) has lifted net profit after tax by a whopping 70 per cent.

Full year profit came in at $62.1 million up from $35.9 million a year ago. Underlying net profit improved by 22 per cent to $111.7 million. Operating revenue increased 6 per cent and the company booked $4.3 billion in contract wins and extensions.

Ahead of its demerger with UGL, DTZ delivered its 12th consecutive year of earnings growth lifting revenue by 17 per cent on strong performances in the UK and North Asia.

UGL declined to pay a dividend saying it is planning to return the profits from its DTZ sale to share holders in a capital management plan once the deal is done. 
UGL reported net profit of $31.3 million for the half year ended 31 December 2013.

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