Prospects in AusGroup, an Australian-based integrated solutions provider, may finally be “turning around”, even if it isn’t “fully out of the woods yet”, says KGI Research analyst Joel Ng in an unrated report on April 13.

The group saw a “challenging” FY2020 ended June as it posted a full-year loss of A$59.5 million ($60.8 million). The loss came amid reduced work on their facilities, as well as impairments of PPE and intangible assets.

However, Ng expects the group’s prospects to see better days due to faster-than-expected growth in the Australian economy.

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