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Clough losses drag half profits

Australia's leading oil and gas fabricator Clough reported net earnings of A$11.7 million in the half-year ended 31 December 2011, down 23.5% year-on-year due to losses on a fixed price construction contract, and margin dilution on two other fabrication jobs.

Looking forward: Despite the fall in half-year profits, Clough chief Kevin Gallagher says the company's order book remains healthy.
Looking forward: Despite the fall in half-year profits, Clough chief Kevin Gallagher says the company's order book remains healthy.
Published 23 February 2012, 02:22Updated 11 October 2016, 09:28
Asia & Oceania