AusGroup

AusGroup to buy housing village & facilities on Australia's Melville Island for $11.4 mil

SINGAPORE (Feb 19): AusGroup, the construction and marine services provider, is acquiring an accommodation village plus facilities worth A$11.8 million ($11.4 million).

The village comprises a 119-man accommodation camp, kitchen, administration building and recreational facilities at Port Melville, Melville Island in the Northern Territory of Australia, supporting the Northern Territory oil and gas industry and marine transport industry.

The acquisition will be made in cash, and comes without mortgage or security interests.

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.

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

AusGroup reports 16.1% rise in 4Q earnings to $2.7 mil

SINGAPORE (Aug 30): AusGroup announced earnings of A$2.7 million ($2.7 million) for the 4Q ended June, up 16.1% from A$2.4 million a year ago on higher revenue and improved gross margin.

Revenue for the latest quarter grew 4.5% to A$126.6 million, which the group credits to overall strong performance from the energy and mineral process sectors.

Administration, marketing and other costs rose 15.6% to A$4.1 million over 4Q due to the effect of cost recoveries and operational efficiencies from project work.

AusGroup wins $11.7 mil contract for turnaround services at liquid ammonia plant

SINGAPORE (May 8): AusGroup’s subsidiary, AGC Industries, has been awarded a contract worth A$11.7 million ($11.7 million) for turnaround services at the Yara Pilbara liquid ammonia plant in Western Australia.

The group has won 15 work packs under the 2018 turnaround contract, which include spool replacement, vessel replacement, refractory scope, remedial repair work, integrity improvement, and the implementation of a life extension programme.

AusGroup says it will recruit around 175 skilled workers to complete the work.

AusGroup bags $27 mil contract for structural, mechanical and piping installation in Western Australia

SINGAPORE (Apr 20): AusGroup’s subsidiary, AGC Industries, has been awarded a contract worth A$27 million ($27.4 million) for a structural, mechanical and piping installation package in Western Australia.

The contract includes the installation of approximately 2,000 tonnes of structural steel and associated flooring and cladding; 70 tonnes of plate work; and 450 pieces of mechanical equipment for the Talison Lithium Chemical Grade Plant 2 (CGP2) expansion project at Greenbushes.

AusGroup 2Q earnings treble to $4.2 mil

SINGAPORE (Feb 13): AusGroup’s 2Q18 earnings almost trebled at A$4.07 million ($4.23 million), compared to A$1.11 million in 2Q17.

Revenue was 41.3% higher at A$150.2 million, compared to A$106.3 million a year ago, mainly due to increased revenue contributions from the work undertaken on core projects in the energy and process sectors.

Cost of sales increased by 43.6% to A$139.0 million from A$96.8 million last year.

Gross profit for the quarter came in at A$11.2 million 17.7% higher than A$9.51 million in 2Q17.

AusGroup swings back to profitability; posts 1Q earnings of $3.3 mil

SINGAPORE (Nov 7): AusGroup has swung back to the black in 1Q18, posting earnings of A$3.12 million ($3.3 million) compared to a loss of A$2.08 million in 1Q17.

Revenue was up 53.6% at A$153.7 million from A$100.1 million a year ago, mainly due to higher revenue contributions from the work undertaken on core projects in the energy and process sectors.

In addition, these works were the main contributors to group’s total revenue for the quarter.

In line with the increase in revenue, cost of sales increased 56.3% to A$142.4 million compared to A$91.1 million last year.

AusGroup swings back to profitability in FY17 on absence of one-off impairments

SINGAPORE (Aug 25): AusGroup, the provider of integrated service solutions to the energy, industrial and mining sectors, posts earnings of A$4.6 million ($4.9 million) for the full year ended June, from a net loss of A$258.9 million a year ago.

This was mainly due to the absence of impairment charges amounting to $189.3 million in FY2016. In addition, administration, marketing and other costs fell 46.7% to A$27.3 million, from A$51.2 million a year ago.

AusGroup says AMJV awarded extension of works on Ichthys Project Onshore LNG Facilities worth $178 mil

SINGAPORE (Aug 23): AusGroup today announced that AMJV has been awarded an extension of works on the INPEX-operated Ichthys LNG Project by JKC Australia LNG worth A$165 million ($177.9 million).

See: AusGroup subsidiary wins contract for INPEX-operated Ichthys project

AMJV is a joint venture between AGC Industries, a subsidiary of AusGroup, and Meisei Industrial.

AusGroup appoints Shane Kimpton as new CEO

SINGAPORE (July 10): AusGroup has announced the appointment of Shane Kimpton as Executive Director and Chief Executive Officer with effect from Monday.

Kimpton will join AusGroup after 30 years working in the resources sector in Australia and overseas for leading operators and contractors including UGL, Transfield Services and ExxonMobil.

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