Worley reaffirms FY outlook as revenue lifts
Make us a preferred source
Make us a preferred source on Google
The news: Worley reaffirmed its full-year outlook as the engineering group reported increased revenue and growing sustainability-related contracts.
The numbers: The company said revenue from work already contracted was up 5% over the year to 29 February, growing to $14.8 billion compared to $14.1 billion by the end of FY23.
Worley also noted that 53% of the backlog was now sustainability-related, with 82% of the factored sales pipeline coming from sustainable projects, with a 64% compound annual growth rate from June 2021 to March 2024.
Worley shares last closed at $15.36 and over the last 12 months has fallen 7.36%.
The context: Shares in Worley plunged on the ASX last month after major shareholder Sidara sold its stake in the group. Its stock also saw an intraday fall in February despite Worley reporting a swing to first-half profit.
The source: ASX announcement
