AusGroup grows first-half profits

AusGroup: Business blooming

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Kathrine Schmidt

 14 February 2013 23:07 GMT

Australian energy construction firm AusGroup boosted first-half profits by nearly 10% on a continually strong order book, the company said Friday.

The company recorded net profits of A$9.07 million ($9.4 million) in the six months to December, compared to A$8.27 million in the year-ago quarter.

"The Group continues to experience a consistent level of demand for pricing and tendering requests,” chief executive Laurie Barlow said.

“The Group expects these levels of pricing and tendering activity to continue as committed major projects enter their construction phase. This is expected to result in a strong project pipeline for FY2014 and beyond.”

Among its recent wins include a A$13 million fabrication contract for Woodside Petroleum's Greater Western Flank project off Australia.

Revenue increased by 11.8% to…

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