WorleyParsons FY profit slips to lower end of guidance

Group confident of increased earnings in FY14 despite global uncertainty.

WorleyParsons (WOR) expects its geographic and sector diversification to provide a foundation for increased earnings in the year ahead, after posting a slight fall in full-year profit.

In the year to June 30, WorleyParsons' net profit was $322.1 million, an 8.8% decline on the $142.5 million recorded in 2012.

The company had forecast for between $320 and $340 million, and analysts were estimating $332.8 million.

Revenue in the period was $8.831 billion, a slight lift on the $7.408 billion in the previous year.

WorleyParsons will pay an unfranked final dividend of 51 cents on September 20 to shareholders on the register at August 30.

The group's total dividend for the year was 92.5 cents.

InvestSMART FORUM: Come and meet the team

We're loading up the van and going on tour from April to June, with events on the NSW central & north coast, the QLD mid-north coast and in Perth, Adelaide, Melbourne, Sydney and Canberra. Come and meet the team and take home simple strategies that you can use to build an investment portfolio to weather any storm. Book your spot here.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles