Specialised engineering, asset management and property services firm, UGL Limited's (UGL), full year numbers were below market expectations

CommSec

Specialised engineering, asset management and property services firm, UGL Limited's (UGL), full year numbers were below market expectations. UGL posted an underlying Net profit after tax (NPAT) of $92.1Million at the lower end of its guidance band. Back in May the company posted FY13 guidance of $90-$100Million, this led to a sell-off in its share price and lower valuations by many analysts. UGL's share price fell to a year low of $6.35c on the 13th of June Today's numbers show that UGL is still in working on structuring its business units and still firmly focused on the de-merger of its property arm to boost the performance of both businesses. UGL said the planned de-merger will be completed by 2015. 2H13 dividend payment below market expectations at $0.05 a share - payable on the 6th of September 2013. For more information: (VIEW LINK)


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