wrongway this is straight from my file you may find something handy ,you even get a mention
The thing I found interesting was the creeping up on MRM and the company in Singapore (forgot name )
I think this company is looking to be big internationally ____________________________________________ CLO 9.09.02---------413,083,169.
PCH GROUP LIMITED - 2002-09-13 ASX-SIGNAL-G
HOMEX - Perth almost completed the first 24 months of our initial contract A report from PCG
. THAILAND
We have
period with the Clough-Unithai Joint Venture, which is understood to have another five years of oil and gas construction work ahead of it. We expect our contract to be renewed for an additional period and are currently awaiting formal advice.
For Investor Relation enquires contact Peter Collins, General Manager, Corporate Affairs on e-mail [email protected] or telephone +61 8 9281 9316.
Business Description Clough's core activities comprise integrated engineering and construction contracting services.
(Last Update: 7 March, 2002) Higher contributions from joint ventures and a lower effective tax rate masked an otherwise disappointing performance from Clough's core business in the first half of fiscal year 2002. Joint ventures contributed $14.3 million of the $17 million pre-tax result, most of which came from Clough's joint venture in Thailand. Problems with two contracts were the main drivers of the underlying result. Management, however, are more optimistic about the second half on the basis that the performance of the two contracts will improve and new contracts are due to come on line. Clough is targeting 'full year profit to be at least greater than last year.'
Clough's strategy is focused on winning contracts both in Australia and overseas in the infrastructure; oil and gas; and mining and minerals sectors. Managing Director, Dr Brian Hewitt, has indicated that rising oil prices has led to new investment in the sector and is confident of the medium term outlook for Clough. Hewitt believes a number of new opportunities are presenting themselves, particularly in south-east Asia.
Clough has experienced strong growth in both its order book ($1.59 billion) and work in hand ($852 million) during the first half of fiscal year 2002. The company has secured a number of contracts during the half with over fifty contracts underway.
Other contract wins include a $66 million contract to construct a coal terminal near Mackay in Queensland. Work is set to begin immediately and is due for completion in April 2003.
Analysts are projecting relatively flat growth for Clough in the short term, which is consistent with the company's short history. The market has factored this growth into the share price, which is trading on a PE multiple of approximately 12
CLO.Ferrett
The company reported during the day that net profit rose 12 per cent to $30 million, at the low range of $29 million to $34 million the company projected back in June. Also, EPS fell 1 per cent to 7.6c, which puts the stock on a p/e of 10.6 times and the 4.5c full year dividend gives it a yield of 5.5 per cent. However, managing director Brian Hewitt says "We have never been busier". The order book is $2.2 billion, up 55 per cent, and work in hand $1.34 billion, up 81 per cent. "We are forecasting substantial growth in 2002-2003,'' Dr Hewitt said. CLOUGH LTD 2001-11-13 Dr Hewitt said the shares were placed primarily with current and new institutional investors. The placement was undertaken jointly by Euroz Securities Limited and Hartley Poynton Clough Limited announced today that it had made a placement of 38.5 million shares at 92 cents each.
clough are in for a boom year the profit was affected by two contracts that are now finished and clough expect to recover the monies in this financial year which will be booked as profit good buying at these levels with a target price well above a dollar.wrongway
current balance sheet .
Financial Update June 2002
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 running as 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 construction vessel "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 nowstands 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
2002-03-18 Change in substantial holding from CLO
Clough Engineering Limited increased its relevant interest in Mermaid Marine Australia Limited on 06/03/2002, from 14,307,385 ordinary shares (17.05%) to 20,807,365 ordinary shares (23.02%).
http://www.covus.com.au/
Covus was formed in 1998 following the merger of Tritech Consultants and Phoenix Offshore. In June 1999 Clough Engineering acquired a 50% interest in Covus Corporation and as a result Covus now has the engineering, financial and commercial resources support of the Clough group. Today, Covus is widely recognised as a leading provider of underwater intervention and engineering services to the oil and gas and civil infrastructure industries.
Covus operates throughout Australia and South East Asia and provides engineering based services including manned diving, remotely operated underwater vehicles and specialist systems support.
Covus’ multi-disciplinary resource base is central to our reputation as a quality provider of underwater engineering and integrated services. Fundamental to our solutions are our employees’ creative capabilities, experience and professional approach.
Covus uses proven techniques in developing solutions for underwater applications that are equally applicable to many other hazardous environments. We specialise in the design and development of remote systems to remove the need for human intervention.
A contract awarded to Covus Covus in joint venture with Clough Environmental Engineering was awarded a major contract by Sydney Water Corporation to:
Inspect and remove an estimated 10,000M3 of silt and debris from two major sections of a sewer trunk line network, whilst the sewer is fully operational, and without manned intervention in the sewer at any stage of the project.
Covus is responsible for the design, development and operation of the remote vehicle, which conducts all in sewer operations.
Clough provides the topsides silt treatment and disposal system.
This project was won against international competition and is considered a world first.
2001-11-13
Today's transaction dilutes the Clough family's shareholding from 59.5% to approximately 54%. Company Announcement
Top 20 shareholders
CLOUGH LIMITED 2001-10-03 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++ DISTRIBUTION OF SHAREHOLDERS AS AT 30/08/2001 ORDINARY SHAREHOLDERS
RANGE OF HOLDINGS NO. OF HOLDERS ORDINARY OPTIONS OVER SHARES ORDINARY SHARES
