reflected the more difficult trading
conditions. Revenue and EBIT were
15% below budget. New work won for
the period was also behind plan in
most regions.
very positive impact on how we manage
safety efficiently and consistently across
all our operating regions.
Island operations have three significant
projects underway.
gathering pace with the preparatory
works for the arrival of the TBM well
advanced. The Te Mihi Geothermal
Power Station is in commissioning
and handover phase. Our project team
on the Christchurch Earthquake Repairs
alliance has grown as more projects are
moving to the implementation phase.
Authority and a large road construction
project in Kiribati.
result despite a decline in public and
private investment. Work on three major
underpasses is progressing well and
the Jurong Aromatics marine project is
scheduled to be complete in 2013. Major
awards include civil projects for Lanxess,
marine facilities for Oiltanking, and
mechanical works on the new Sentosa
Cableway.
further work associated with the project.
We are also pursuing a number of civil
and mechanical projects through existing
relationships with clients.
projects is proceeding well. The country
certainly appears to have the best growth
prospects in the region and there are a
number of large projects that present
significant opportunities based on our
capability and experience.
we have fallen well short of our financial
targets. Our operations in these countries
are being reviewed to correct this
underperformance.
progress on our project for Towngas to
install submarine gas pipelines under
the harbour. There are a number of good
prospects that should result in further
work for the operation.
has improved significantly. We are nearing
completion of the Ma'aden Aluminium
Smelter project in Saudi Arabia. During
the year we were awarded new projects
at Qatalum in Qatar for a new pot relining
facility and for the erection of pot handling
machines for ECL at Emal in Abu Dhabi.
Thailand have operated at full capacity
for the year. We have secured major
export orders for both facilities to deliver
modules, plate work and specialised steel
items to Australia, Africa and regionally
in Asia.