Rude health might be too strong a statement, but SKE just keeps...

Rude health might be too strong a statement, but SKE just keeps motoring forwards.

Outlook

• The outlook for FY13 remains the same as the previous market update (1 May 2013). Trading conditions remain challenging in some business segments with growth in others:
• Workforce Services: weakness in mining with continued price and margin pressure; weak employment conditions overall, with ‘pockets’ of strength e.g. telecommunications and infrastructure; some geographies e.g. Pilbara and Metropolitan NSW
• Technical Professionals: reduced activity in mining and related engineering services, with growth in telecommunications and training
• Engineering & Marine Services: continued growth supported by increased activity levels in oil & gas and maintenance services; the pipeline of oil and gas opportunities remains strong
• Good progress on transformation and cost reduction expected to deliver at least $10 million in FY13; with further opportunity to reduce costs identified for FY14
• Expanding capability in attractive market segments:
• Previously announced equity increase in the OMSA JV to 50%
• Broadsword expected to deliver between $16 - $17 million EBITDA in FY14
• Well positioned to maintain a strong balance sheet to support dividends and invest for future
growth