Back in today, would not expect the hit to be anywhere near the full $85m - talk of scope of works changes also in the announcement. After the capital return and assuming price drops the $3.00 we are looking at the new market cap of around $500m.
UGL have stated their annual engineering turnover will be approx $2.2b at 3.7% = 81.4 EBIT, and expecting upside to 4.5% = 100m EBIT with dividends at say 50% gives 24 to 30 cps.
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