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AusGroup swings back to profitability in FY17 on absence of one-off impairments

Stanislaus Jude Chan
Stanislaus Jude Chan • 2 min read
AusGroup swings back to profitability in FY17 on absence of one-off impairments
SINGAPORE (Aug 25): AusGroup, the provider of integrated service solutions to the energy, industrial and mining sectors, posts earnings of A$4.6 million ($4.9 million) for the full year ended June, from a net loss of A$258.9 million a year ago.
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SINGAPORE (Aug 25): AusGroup, the provider of integrated service solutions to the energy, industrial and mining sectors, posts earnings of A$4.6 million ($4.9 million) for the full year ended June, from a net loss of A$258.9 million a year ago.

This was mainly due to the absence of impairment charges amounting to $189.3 million in FY2016. In addition, administration, marketing and other costs fell 46.7% to A$27.3 million, from A$51.2 million a year ago.

Revenue in FY2017 fell 7.6% to A$435.0 million, from $470.8 million a year ago, following the completion of maintenance contracts last year.

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