Key takeaway: Solid growth in revenue and profit has not returned investor confidence following allegations of corruption in Ecuador with more legal action from the government likely.
More so than usual for a company, there is a large disconnect between the half-year statutory and underlying results at Worley, the ASX-listed multinational engineering services firm.
The A$8.2b ($8.8b) company, which has six offices in New Zealand, does not use the common measure of earnings before
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Key points
Underlying revenue:Up 22% to A$5.6 billion.
Underlying NPATA: Up 30% to A$188 million.
Key takeaway: Solid growth in revenue and profit has not returned investor confidence following allegations of corruption in Ecuador with more legal action from the government likely.
