Worley Provides Updated Response to Market Conditions

  • Apr 28, 2020 AEST
  • Team Kalkine

Worley Limited (ASX: WOR) has provided updated response to market conditions.

  • Worley conformed that the safety and well-being of its people is the top priority.
  • It continues to adjust its business & expenses.
  • It has added $465 million debt facility to strengthen its liquidity position.
  • The headcount has dropped 5% in between 31 January 2020 to 31 March 2020 in the lower margin construction related events.
  • Chargeable hour has gone down by 2% over March 2020.

Business response update:

  • Made adjustment to the operational & support cost structures
  • Postpone all non-essential capex.
  • Protect cash, manage receivables & lessen discretionary use.
  • Optimize staffing levels & costs while preserving capability.
  • Maintain productivity on projects & operational support services.

Liquidity Update:

Worley’s total liquidity as at 31 December 2019 was $1.36 billion. On 30 March 2020, WOR announced that it received credit approval to extend ~ $465 million in 12 months facility.

 

 


Disclaimer
The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The article has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. All pictures are copyright to their respective owner(s). Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK