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AusGroup reports 87.9% fall in 2Q earnings to A$0.5 mil on reduced operating activity

Michelle Zhu
Michelle Zhu2/13/2019 11:03 AM GMT+08  • 2 min read
AusGroup reports 87.9% fall in 2Q earnings to A$0.5 mil on reduced operating activity
SINGAPORE (Feb 13): Construction and engineering company AusGroup saw its earnings fall 87.9% y-o-y to A$0.49 million ($0.47 million) for the 2Q ended Dec 2018 as compared to earnings of A$4.8 million in 2Q18, due to reduced operating activity.
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SINGAPORE (Feb 13): Construction and engineering company AusGroup saw its earnings fall 87.9% y-o-y to A$0.49 million ($0.47 million) for the 2Q ended Dec 2018 as compared to earnings of A$4.8 million in 2Q18, due to reduced operating activity.

This brings the group’s earnings for 1H19 to A$1.8 million, down fourfold from A$7.2 million in the previous year.

Revenue for the latest quarter fell 61.2% to A$58.3 million as compared to A$150.2 million in 2Q18 in the absence of the completion of major project work in the previous comparative period, as well as timing delays in anticipated new work.

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