Significant increase in Group backlog to US$5.6 billion at 30 June 2023 (31 December 2022: US$3.4 billion) with strong order intake in both E&C and Asset Solutions
Asset Solutions and IES performance in line with expectations
E&C expecting an EBIT loss of approximately 20% on revenues of US$0.5 billion, which includes write-downs of over US$50 million on receivables from historical contracts to protect full year cash flows
Well positioned to continue backlog growth in both E&C and Asset Solutions, with a healthy Group pipeline scheduled for award in the next 18 months of US$73 billion
Lots of shorter noise on here today as expected, LTH we've come this far so we continue to hold for the results. The sales pipeline is huge, this is a small bump in the road. Ignore the negs..............HOLD