short sellers, page-37

From company announcement 15 may......

Outlook
UGL is well placed to respond to the challenging operating environment in Australia with a strong recurring revenue base from its $9 billion order book. The combined revenue base in Property, Rail and Industrial maintenance generates approximately $3 billion annually and is expected to continue at that rate into FY2014. This base will provide some degree of insulation against the slowdown being experienced in the Australian resources sector. In addition, over 40 percent of Group earnings are now generated offshore.