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WOR - Worley News Story

A$10.5 -0.1  -0.8%

Last Trade - 6:10am

Large Cap
Market Cap £3.00bn
Enterprise Value £4.02bn
Revenue £7.09bn
Position in Universe 103rd / 1824

BUZZ-Australia's Worley hits 2-1/2 month high on strong FY results, dividend hike

Wed 26th August, 2020 3:58am
** Engineering contractor's shares  WOR.AX  climb as much as
8.3% to A$9.87, their highest since June 11
    ** Worley says full-year profit after tax attributable came
in at A$171 mln ($123.12 mln), compared with A$152 mln a year
earlier; revenue jumped 89% to A$13.07 bln  urn:newsml:reuters.com:*:nFWN2FR0RZ
    ** Results were helped by strong performance of its energy &
chemicals services business as well as the minerals and metals
services unit
    ** The North Sydney-based firm announces final dividend of
25 cents a share, up from 15 cents declared last year 
    ** Company adds that it is on track to meet the A$$275 mln
cost cutting target in FY21 
    ** Citi Research says the operating cost savings were ahead
of its expectations, adding that the outlook commentary
indicates a likely rebound in FY21 supported by growth in
chemicals division
    ** Stock notches its biggest intraday pct gain since June 16
and is set to post its fourth straight session of gains
    ** Nearly 3.1 mln shares change hands, vs the 30-day average
volume of 1.5 mln shares
    ** As of last close, WOR shares are down 40.5% this year,
compared with the S&P/ASX 200 index's  .AXJO  7.8% decline 

($1 = 1.3889 Australian dollars)

 (Reporting by A K Pranav in Bengaluru)
 ((Pranav.AK@thomsonreuters.com; Twitter: https://twitter.com/AKPranav1))
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