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Worley returns to profit after massive Ecuador write-off

But the saga is still weighing on the share price.

Worley founder and chair John Grill

Dan Purves Thu, 29 Feb 2024
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. 

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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Dan Purves Thu, 29 Feb 2024
Contact the Writer: dpurves@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
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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. 
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Worley returns to profit after massive Ecuador write-off
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