finally out of the doldrums??, page-2

Clough emerges from five-year low

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Date: 28/7/2004
Author: Yvonne Ball
Source: The Australian Financial Review --- Page: 44
Perth-based engineering and mining services group, Clough, has returned to profit. Despite the group's order book languishing at a five-year low at 31 December 2003, it had recorded a net profit of $A3.2 million. CEO David Singleton says he is "comfortable" with market analysts' forecasts of a full-year net profit of $A15 million. He says Clough has tendered for contracts worth more than $A1 billion, mainly in gas and oil infrastructure projects. These include work for the North-West Shelf partners, Nexen of Canada in the Timor Sea, and Apache in the North Sea.