Clough Sees Improved Revenue for Fiscal Year 2013

Clough Limited, an engineering and project services contractor servicing the Energy and Chemical as well as the Mining and Mineral markets in Australia and Papua New Guinea, indicated in an investor presentation that the company's revenue for fiscal year 2013 (FY13) amounted to $1.43 billion (AUD 1.5 billion), up from the previous guidance of $1.36 billion (AUD 1.43 billion).

The company added that earnings before interest and taxes (EBIT) for FY13 is projected at $85.7 million (AUD 90 million), up from the previous guidance of an EBIT of $76.1 million to $80.9 million (AUD 80 - AUD 85 million). There was an improvement in Clough's EBIT margin to 6 percent, while the company's order book reached $2.19 billion (AUD 2.3 billion).

The Australian engineering company said it has secured revenue of $1.29 billion (AUD 1.35 billion) and $618.9 million (AUD 650 million) for FY14 and FY15, respectively.

Clough is currently working on several projects, including Ichthys and Gorgon.

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