Investment Matters

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).