WorleyParsons has Swung into the Red with a $54.9 million Full Year Loss

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Thursday, August 27th, 2015
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The company’s net loss for the year to June 30 was dragged down by $198.6 million worth of previously announced goodwill writedowns.

Worley made a $249.1 million net profit in 2013/14.

Underlying profit, which strips out significant items, fell 24.6 per cent to $198.6 million largely as a result of customers reducing their spending as commodity and oil prices dropped.

The company has axed 6,000 jobs since 2013 in order to offset the effects of the downturn in the resources industry and slide in commodity prices.

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