Worley FY Profit Rises

(RTTNews) - Australian professional services company Worley Limited (WYGPF.PK, WYGPY.PK, WOR.AX) reported that its net profit attributable to members of the company for the year ended 30 June 2020 rose to A$171 million from A$152 million last year.

Net profit after tax was A$252 million, an increase of 46% on the result for the prior corresponding period of A$173 million.

On an underlying basis, net profit after tax was A$432 million, up 66% on the prior corresponding period.

Aggregated revenue increased 75% to A$11.249 billion, driven by the first full year contribution of the business acquired from Jacobs (ECR).

Statutory revenue was up 89% to A$13.068 billion from A$6.924 billion in the previous year.

The company will pay a final dividend of 25 cents per share. The dividend will be paid on 30 September 2020 with a record date of 2 September 2020.

The company said it is on track to deliver the A$190 million ECR acquisition cost synergy target as well as the A$275 million operational savings target as it accelerates its transformation.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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