Here is that announcement:
CLOUGH LIMITED 2002-06-07 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++
Clough Limited today reported that its 2001-2002 year-end results
remain on target to be a record in terms of both revenue and profit.
Revenue is expected to be over A$750 million. Currently, Clough is
forecasting the net profit to be in the range of A$29 million to A$34
million, subject to projects runningas currently expected. Clough
will finish the financial year with a strong balance sheet.
Profit before tax is forecast to be in the -range of A$43-48 million
and approximately 25% of this amount is derived from asset sales.
Work on the two problem contracts, which were mentioned with the
half-year result, has now been essentially completed. Financial
negotiations are proceeding and no recoveries are included in the
year-end forecast.
The sale of the offshore constructionvessel "Maxita" was concluded
in May, as per the timetable laid out in the ASX release of May 2001.
Work progresses well on the sourcing of a replacement construction
vessel to be based in Asian/Sub-Continent waters.
The Clough Group also reports that its order book and work in hand
have grown considerably in the last few months. The order book now
stands at A$2.23 billion, up 69%, and work in hand at A$1.38 billion,
double this time last year.
Clough is forecasting substantial growth in financial year 2002-03
with revenue forecast to exceed the billion-dollar mark for the first
time in the Company's history.
Clough Limited's full-year results are due to be released September
4, 2002, as scheduled.
Further information;
Dr Brian Hewitt
MANAGING DIRECTOR
Tel: (618) 9281 9281
Peter Collins
General Manager
Corporate Affairs
Tel: (618) 9281 9281, 0412 002 625
E-mail: [email protected]
Website: www.clough.com.au
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