WorleyParsons: Result 2012

Underlying profit growth was again a feature of Worley's results but it's the rich price that scares us most.

WorleyParsons' statutory profit for the 2012 year fell 3% to $353m. Excluding one-off gains made last year, underlying net profit rose 16% to $346m. From underlying earnings per share of $1.41, up 16%, a final dividend of $0.51 (franked to 61%) was declared (est. ex date 4 Sep) taking full year dividends to $0.91.

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