June 5 (Reuters) - UGL Ltd (UGL) : Update on commercial...

June 5 (Reuters) - UGL Ltd (UGL) :

• Update on commercial negotiations - Ichthys Smp & Ccpp (UGL)
• Substantial claims have been raised with JKC on both SMP and CCPP
• Excluding the Ichthys projects, UGL is on track to achieve 3% EBIT margins plus $5.7M FX gain in FY 2016
• Excluding Ichthys projects, UGL is on track to achieve 4% EBIT margins on increased revenue of at least $300 million in FY 2017
• UGL has updated its FY 2016 and FY 2017 earnings guidance to exclude any margin from SMP project
• Construction of Ichthys SMP and CCPP projects being undertaken by UGL continues to experience substantial delays
• Full year EBIT will benefit from the one-off FX gain of $5.7 million realised in HY16
• Remains on track to deliver 3% EBIT margins on around $2.0 billion of revenue in FY 2016