Clough sitting pretty for FY13

ENGINEERING group Clough has had a solid financial year, chalking up a statutory net profit gain of 2% to $A50.7 million, but with $1.1 billion already booked in revenue for the 2013 financial year it is sounding downright bullish.
Clough sitting pretty for FY13 Clough sitting pretty for FY13 Clough sitting pretty for FY13 Clough sitting pretty for FY13 Clough sitting pretty for FY13

Total revenue for the 2012 financial year was just over $1 billion, which was up 28% year on year.

Forge Group, which Clough moved to acquire back in 2010, contributed $24 million to Clough's overall profit.

But it's the record order book of $2.3 billion which has Clough feeling particularly confident about the future, with the figure a whopping 87% gain year on year.

Roughly $1.5 billion of that figure was driven by contract wins at Wheatstone and the Ichthys LNG projects.

As a result of the increased activity expected in 2013, Clough said an underlying earnings before interest and tax margin of roughly 5% would not be out of the question.

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