Diversified contractor AusGroup has shocked the market with a $69.8 million quarterly loss, admitting it has been forced to write off long-standing contractual claims in order to boost its cash reserves.
Perth-based contractor AusGroup has recruited former Southern Cross Electrical Engineering boss Simon High as chief executive of its engineering services arm.
Singapore-listed contractor AusGroup has announced a number of contract wins and extensions worth a combined $100 million, including with Woodside Petroleum, which today flagged lower capex and increased production for the year.
Singapore-listed contractor Ausgroup has reported a net profit of just $472,000 for the September quarter after incurring higher restructuring costs and delays to its new marine services business.
