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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