Company news: Ausenco
Ausenco released its second quarter trading update (FY=CY). Performance in the quarter was impacted by project delays, extended payment terms and restructuring costs. As a result second quarter revenue of $44m is forecast - below the company's expectations. FY-16 revenue is now expected to be in the range of $230 to $240m (previously $280m).
As previously advised in Investment Matters, the company is under takeover offer from RCF (Resource Capital Funds).