AusGroup reports Q2 2017 profit of $1.1m

Q2 2017 highlights

Revenue for the quarter was $106.3m1, underpinned by growth from core projects within the Engineering Services Division.
Gross profit of $9.5m for Q2 2017, continuing on from the strong performance in Q1 2017.
Profit from operations (EBIT) was $4.8m, an improvement of $3.6m on Q1 FY2017.
Port & Marine Services business now free to operate following Federal Environmental approval received in the quarter.
Work in Hand of $351.3m as at 31 December 2016, increased through organic growth of current contracts.
Completion of the extension of the maturity date for AusGroup’s loan notes to October 2018.
Singapore facility closure substantially completed removing major lease liability obligations (disclosed as “discontinued operations“).

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