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REFILE-BRIEF-UGL updates on commercial negotiations

Published 06/06/2016, 10:22 am
© Reuters.  REFILE-BRIEF-UGL updates on commercial negotiations
UGL
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(Refiles to add Eikon source text ID)

June 6 (Reuters) - June 5 (Reuters) - UGL Ltd UGL.AX :

* Update on commercial negotiations - Ichthys SMP & CCPP UGL.AX

* Substantial claims have been raised with JKC on both SMP and CCPP

* Excluding the Ichthys projects, UGL is on track to achieve 3% EBIT margins plus $5.7M FX gain in FY 2016

* Excluding Ichthys projects, UGL is on track to achieve 4% EBIT margins on increased revenue of at least $300 million in FY 2017

* UGL has updated its FY 2016 and FY 2017 earnings guidance to exclude any margin from SMP project

* Construction of Ichthys SMP and CCPP projects being undertaken by UGL continues to experience substantial delays

* Full year EBIT will benefit from the one-off FX gain of $5.7 million realised in HY16

* Remains on track to deliver 3% EBIT margins on around $2.0 billion of revenue in FY 2016

Source text for Eikon ID:nASX2lDgPh

For more news, please click here UGL.AX

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