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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
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