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AUSGROUP: 1H09 revenue up 28.8% to reach A$260.5 m

ozone2002
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01-Jun-2012 15:17

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Ausgrp highlighted in TheEdge magazine this week

briefs

AUSGRP trading @ 6x earnings vs Civmec of 34x

looking to gain investor confidence back..

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ChillX
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29-May-2012 10:04

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Yells: "Bleh!"

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Hope that his track record remains strong, but need time to be established. Anyway, Ausgroup price seems to be consolidation mode for now... can swing either way after within a week+++, depending on any news releases, state of the global economy, etc. Waiting for signs of bottoming out or some kind of indication (personal... non-infallible judgement) price direction before considering vesting.

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ozone2002
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24-May-2012 09:26

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AUSGROUP's new CEO has track record as strong business builder

Written by Leong Chan Teik

Sunday, 20 May 2012 13:19

Based in Perth, Laurie Barlow, 50, was in Singapore recently to meet fund managers. Photo by Leong Chan Teik

GROWING UP in Queensland, Australia, young Laurie Barlow absorbed working knowledge that would later dovetail into his own lifetime career.

“My father was a civil engineer in a contractor company that built roads, airports, etc – all the time I was growing up, we were talking about project delivery and contract management,” remembers Mr Barlow in an interview with NextInsight recently.

He gained first-hand experience too in the industry. “When I was in high school and university, I spent the holidays working on-site in the construction industry.”

Since graduating as a chemical engineer from the University of Queensland in 1983, and picking up a MBA along the way, Mr Barlow has spent three decades working on sites, or desk-bound work, all of which were related to projects in the mining, or oil & gas sectors in Australia.

Now 50, he was appointed CEO of AusGroup, which is listed on the Singapore Exchange, effective March this year.

AusGroup’s business is familiar terrain to him – AusGroup provides fabrication and manufacturing, construction and integrated services to natural resource development companies.

Previously, he was MD of the mining division of AECOM Australia.

AECOM is a much bigger company than AusGroup – AECOM is a Fortune 500 company listed on the New York Stock Exchange providing consulting and project management services.

While AECOM has annual revenues of US$8 billion, AusGroup reported AUD602 million in revenue (and AUD12.4 million in net profit) for FY11.

An interesting fact about Mr Barlow’s 4.5 years at AECOM is that he grew its mining division to become a significant contributor to AECOM’s annual revenue.

Similarly and strikingly, Mr Barlow had grown a start-up to a significant size at his previous workplace, SNC-Lavalin, one of the largest engineering and construction companies in Canada.

Based in Australia, he was Vice President and General Manager, responsible for the management of SNC-Lavalin business activities and operations in the Australian region.

It now has a major EPC (engineering, procurement and construction) operation in Australia.

Why join AusGroup?

For heavy structure assembly and construction, AusGroup has a facility (above) in the Australian Marine Complex. NextInsight file photo

" I wanted to run a company that was delivering projects to the resources sector in Australia, especially in mining and oil and gas. I looked closer at AusGroup -- it had 3,000 people, it was delivering iconic mega projects in Western Australia, and it had a fantastic safety culture."

Safety is not about measuring lost time but achieving accident-free days, he says.

Mr Barlow fishes out from his bag his work pass -- it has the words " Perfect Day" and a photo of him on a jet ski with his son.

" Our safety philsophy is - we want to go to work and come home and enjoy something we do at home. So my Perfect Day would be to go to work and come home and enjoy jet-skiing with my son."

AusGroup recently traded at 33 cents for a market cap of S$155 million and historical PE of 10.

Other things about AusGroup attracted him. As part of his research, " I looked at the share price and I thought there is a lot of upside for this company."

AusGroup operates in an industry where, according to a recent media report, there are some AUD300 billion of resource projects in the execution or planning stage in Australia, of which AUD220 billion is in Western Australia.

In the next financial year, Mr Barlow is looking to expand its business from Western Australia to Queensland in the east coast (where he grew up) either organically or through acquisitions.

" I have been to a lot of mine sites and travelled around Australia - by road, helicopter, plane. There's not many places in Australia I have not been to. The knowledge, coupled with a project delivery focus, will help AusGroup grow."

On his management philosophy: " We have a clear strategy for the business and my direct staff clearly understand that strategy and have the freedom to implement it.

" I'm very open, and I'm very results-driven. I need the bottomline because that's what our shareholders want."

Family and leisure

Mr Barlow has three children: Myles, 20, who is studying commerce at the University of Western Australia Lydia, 20, who is studying physiotherapy at Curtin University and Remy, 15, who is in high school.

His wife, Lee, used to work in consulting engineering but has since become a lady of leisure.

In his own lesiure, aside from jet-skiing, Mr Barlow enjoys scuba diving, citing the Great Barrier Reef and the relatively unknown Ningaloo Reef off Western Australia as his favourites.

I asked a hypothetical question: If he were close to retirement, what would he be planning to do?

" I would like to do a lot of travelling to nice places with my wife. I have done so much travelling in the past 20 years but not a lot of that's for leisure. I would fly to cities and have meetings but not have the time to see them properly. I have been to Beijing, Hongkong, New York, LA, Rio, you name it, I have been there -- I've been to Singapore a lot of times but I've only seen Changi."

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doldoves
Member

17-May-2012 23:10

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Haiz.... where is the bottom lei??? anymore hope for this counter?

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ozone2002
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10-May-2012 10:38

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37..chug chug slowly..choo choo!

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ChillX
Senior

09-May-2012 22:32

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Yells: "Bleh!"

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With the new CEo in place... have to wait and see what track record he can build. So far.. looking good.

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ozone2002
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09-May-2012 18:05

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fundamentally very sound! :)

Ausgroup Q3 profit up 133% on higher margins

Carine Lee

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Singapore-listed Ausgroup Limited on Wednesday said its net profit for the third quarter ended March 31, 2011 rose 133.1 per cent year-on-year to A$6.79 million (US$6.9 million), on improved profit margins.

Revenue increased17.6 per cent to A$182.25 million from a year ago, due to higher activity levels in the integrated services segment and the manufacturing and fabrication segments.

Revenue for the nine months to March remained steady compared to prior year, with a marginal increase of 0.6 per cent to A$456.7 million.

Gross margins increased from 8.4 per cent during the third quarter of FY2011 to 11.2 per cent during the third quarter of FY2012. The increase is due to improved margins earned within the major projects segment in the third quarter.

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ozone2002
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09-May-2012 09:09

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civmec 68? ausgrp ....

give me a break..

i'm accumulating more ausgrp..

dyodd gd luck..

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eiffel76
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07-May-2012 09:18

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positive on this stock too. look to enter at 34-345.

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ozone2002
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07-May-2012 01:46

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AUSGROUP: Contract for desalination plant brings order book to half a billion SGD

A WEEK ahead of Ausgroup’s 3Q2012 results announcement, investors have good news in the form of contract wins announced by the energy and mineral resources infrastructure solutions provider.

With the latest contract win, AusGroup’s order book is now over half a billion Singapore dollars (A$432 million).

Its stock price climbed a good 6% over the past three days to 36 cents after it successively announced a A$30 million (about S$38 million) contract from Southern Seawater Alliance and work from Woodside. Southern Seawater Alliance is a consortium of companies commissioned by Western Australia’s government to build a desalination plant.

Known as Binningup Desalination Plant, the desalination plant will deliver 100 gigalitres of potable water per year, or 20% of Perth's requirements, when completed this year.

The scope of work by Ausgroup for Southern Seawater Alliance will cover structural, mechanical and piping installation work of the main facility as well as fabrication of the secondary steelwork.

Separately, AusGroup unit MAS Australasia was also awarded a separable portion of work to support commissioning, start-up and production activities at Woodside’s Pluto LNG Plant.

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ozone2002
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04-May-2012 11:34

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now 36.. looks like upside is emminent!

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ozone2002
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04-May-2012 09:59

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a convincing break above 35.5 on gd volume will signify further upside..

gd luck dyodd

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ChillX
Senior

03-May-2012 22:47

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Looks like price about to rebound upwards... hmm... may accumulate some... not a call to buy or sell... DYODD and BOSAYOR!

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ozone2002
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02-May-2012 13:55

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gd news taken from DBS vickers report today

AusGroup has been awarded a separable portion of work

to support commissioning, start-up and production

activities at the Pluto LNG Plant. With this contract award,

AusGroup’s order book today stands at AU$402m.

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ozone2002
Supreme

02-May-2012 09:50

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climbin slowly now 35c off 34c low..fyi civmec flying high @ 64c

risk reward in favour of more reward than risk..

gd luck dyodd..

ozone2002 ( Date: 01-May-2012 19:31) Posted:

based on technical charts.. ausgrp hit dble bottom in the short term..@ 34c support.. oversold currently..

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ozone2002
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01-May-2012 19:31

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based on technical charts.. ausgrp hit dble bottom in the short term..@ 34c support.. oversold currently..

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mazimaz10
Senior

01-May-2012 12:32

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Nobody interested in Ausgroup oredi. sahre price seems to go down lower and lower.......

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Sporeguy
Elite

30-Apr-2012 11:10

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Ausg=old condos, civmec=new condos, more spread and meat for speculation.

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ozone2002
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30-Apr-2012 10:55

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fyi ausgrp PE is 7.7x based on current price of 35c..

civmec.. PE > 10x

what warrants civmec to have a higher valuation?

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ozone2002
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30-Apr-2012 09:31

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both are in the same industry..

however civmec has higher valuation than ausgrp..

gd luck DYODD..

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