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BRIEF-Aveng Says Business Continues To Trade Profitably, In Line With Management Expectations

Published 06/11/2019, 09:39 pm
Updated 06/11/2019, 09:43 pm
© Reuters.  BRIEF-Aveng Says Business Continues To Trade Profitably, In Line With Management Expectations

Nov 6 (Reuters) - Aveng Ltd AEGJ.J :

* UPDATE ON BUSINESS PERFORMANCE

* BUSINESS CONTINUES TO TRADE PROFITABLY, IN LINE WITH MANAGEMENT EXPECTATIONS AND HAS MET ITS BUDGET FOR Q1 OF FINANCIAL YEAR

* GROUP HAS EXPERIENCED DELAYS IN COMPLETING PREVIOUSLY ANNOUNCED TRANSACTIONS

* DISCUSSIONS WITH POTENTIAL BUYERS FOR REMAINING NON-CORE BUSINESSES OF AVENG TRIDENT STEEL AND AVENG ACS ARE CONTINUING.

* MCCONNELL DOWELL HAS BEEN AWARDED NEW ORDERS TO VALUE OF AUD 535 MILLION SINCE 30 JUNE 2019

* EXPECTS TO HAVE FINALISED DISPOSAL OF ALL NON-CORE BUSINESSES DURING COURSE OF CURRENT FINANCIAL YEAR.

* PROCEEDS FROM DISPOSAL OF NON- CORE ASSETS EXPECTED TO CONTRIBUTE TO IMPROVE QUALITY OF BALANCE SHEET

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