First Impression: UGL (UGL) FY16 Result

Bell Potter

Reported net loss $106 million including $200 million provision raised against the Ichthys CCPP and SMP projects as foreshadowed in June 2016 | Segment EBIT: Rail & Defence up 44% to$ 49.9m; Asset Services up 182% to $24.1m;Technology Systems up 14% to $11.7m; Engineering and Construction down 67% to $13.9m; Asia ($7.3m) | Order book of $4.8 billion with strong sales in July and August adding $800 million to the order book | Net operating cash flow ($77m) as compared to $64.9m in pcp.


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