Ann: DTZ Sale Completion & Ichthys Update, page-10

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.