# WOR - Worley Limited



## michael_selway (28 February 2006)

Omg looks likes it going to make its 2008 Forecast in 2006!

Half Yearly out today

http://www.asx.com.au/asxpdf/20060228/pdf/3vms6zz3x5t18.pdf

On Comsec

Earnings and Dividends Forecast (cents per share) 
2005 2006 2007 2008 
EPS 31.2 51.5 61.6 69.7 
DPS 20.0 29.0 36.0 42.0 

Highlights:
141.7% increase in net profit after tax to $61.8m (Basic earnings per share were 30.1 cents, an increase of 94.2% from the 15.5 cents per share reported in the previous corresponding period).

Outlook:
Based on the strong results achieved so far and subject to reasonable conditions inthe markets in which we operate for the remainder of this financial year we would expect to report a modest improvement on the first half’s very good result.

Hm absolutely amazing!

thx

MS


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## jamestom77 (2 March 2006)

*Worley Parsons - Earnings troubles*

Take a big step big back.

Worley is "just another stock", no different to the rest.

Facts:

1. They can't maintain there P/E for much longer
2. They ARE going to have problems keeping pace with current earnings
2. Now that the words out, EVERYONE will want in. Energy services is no different, other companies will try to replicate them, it's only a matter of time
4. They are over staffed BIG time !!

Be careful folks, it's not what you think and the pros are already out, we should know.

JT77.


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## nizar (2 March 2006)

iv been watching this stock for a while...

yes this stock has had a big run last year and this year....

i think what is amazing is how healthy their balance sheet looks....

they could easily afford to make acquisitions, since they only have 1.6% debt... 

they in the right business in the right time... though i dont think 2006 will be as great for their stock as 2005 has... the market always expects MORE... and the results released on tuesday are going to be very tough to beat...

share price might run a bit more as it will soon be included in asx100.... all those index fund managers....


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## Ann (2 March 2006)

*Re: Worley Parsons - Earnings troubles*



			
				jamestom77 said:
			
		

> Be careful folks, it's not what you think and the pros are already out, we should know.
> 
> JT77.




Hi JT77, 

Who are the "we" of whom you are speaking? Are you one of the pros? 

If the pros have been out for the last few days, they have missed some excellent price rises.


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## michael_selway (2 March 2006)

*Re: Worley Parsons - Earnings troubles*



			
				jamestom77 said:
			
		

> Take a big step big back.
> 
> Worley is "just another stock", no different to the rest.
> 
> ...




The thing is they have such a unique and offers such diverse services to the energy/resource sector and are very global

WOR operates across 5 key sectors: Oil & Gas; Refining, Petrochemicals & Chemicals; Minerals & Metals; Power & Water; and Industrial & Infrastructure. Operations span 14 countries in the Asia Pacific, Middle East and United States and its client base includes Alcoa, BP, Shell, Origin, and BHP Billiton.

is there any compnaies u know that are similar and as diverse?

Also im waiting for the new forecasts, but im sure foreward P/E wont be that high at $17. Growth is huge imo still

thx

MS

http://www.aireview.com/index.php?act=view&catid=8&id=3653
http://www.smh.com.au/news/business...ket-doubles-net/2006/02/28/1141095743778.html


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## jamestom77 (6 March 2006)

*Re: WOR - Worley Parsons -*

I hear what you're all saying and from a long term point of view, your arguments are strong.

However...

We've seen this before. Infrastructure & services aren't new and it takes a brave person indeed to be buying at these levels. Some insto's were in there Friday & today but only to mind it NOT buy it.

Be exceedingly careful otherwise you might find yourself in it for the long haul but for all the wrong reasons.

Both fundamentally and technically this is way overbought, $16.20 is very much in play.

JT.


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## michael_selway (7 March 2006)

*Re: WOR - Worley Parsons -*



			
				jamestom77 said:
			
		

> I hear what you're all saying and from a long term point of view, your arguments are strong.
> 
> However...
> 
> ...




Hi new forecasts out on Comsec, fwd 2007 P/E about 20 so not that high even at $17, but fair value ill say currently PE 31

Thing is, the 2006 forecast seems very conservative 63.6 EPS?

CEO said “modest improvement on the first half’s very good result” u would at least say 20% more like 30-50%?. Plus surprise contracts could mean even more etc

30.1*1.2 + 30.1 = 66.22 if it was 20%

What do others think that a “Modest” % would be?

Earnings and Dividends Forecast (cents per share) 
2005 2006 2007 2008 
EPS 31.2 63.6 79.4 88.7 
DPS 20.0 32.5 40.0 47.5

Was before half yearly

Earnings and Dividends Forecast (cents per share) 
2005 2006 2007 2008 
EPS 31.2 51.5 61.6 69.7 
DPS 20.0 29.0 36.0 42.0 



> Highlights:
> 141.7% increase in net profit after tax to $61.8m (Basic earnings per share were 30.1 cents, an increase of 94.2% from the 15.5 cents per share reported in the previous corresponding period).
> 
> Outlook:
> Based on the strong results achieved so far and subject to reasonable conditions inthe markets in which we operate for the remainder of this financial year we would expect to report a modest improvement on the first half’s very good result.


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## Ann (7 March 2006)

Everything still looks good on the chart, perhaps a bit of sideways consolidation?
WOR goes Ex-divie on the 16/03/06. It will be interesting to see if the price can be dragged down on Ex-divie day or if the stockholders will maintain their grip.


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## michael_selway (8 March 2006)

Ann said:
			
		

> Everything still looks good on the chart, perhaps a bit of sideways consolidation?
> WOR goes Ex-divie on the 16/03/06. It will be interesting to see if the price can be dragged down on Ex-divie day or if the stockholders will maintain their grip.




Hi

Slightly increased 2008 forecast

However 2006 still is very conservative?

Earnings and Dividends Forecast (cents per share) 
2005 2006 2007 2008 
EPS 31.2 63.1 78.6 92.1 
DPS 20.0 39.5 48.0 54.0 

Was before

Earnings and Dividends Forecast (cents per share) 
2005 2006 2007 2008 
EPS 31.2 63.6 79.4 88.7 
DPS 20.0 32.5 40.0 47.5


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## michael_selway (14 March 2006)

Ann said:
			
		

> Everything still looks good on the chart, perhaps a bit of sideways consolidation?
> WOR goes Ex-divie on the 16/03/06. It will be interesting to see if the price can be dragged down on Ex-divie day or if the stockholders will maintain their grip.




Hi Ann how do u see it in the charts now? it keeps climbing higher every now and then!

Current concensus forecasts slighly lowered, but again that 2006 forecast is still very conservative imo, i think they are in for a surprise again in 6 months time!

Earnings and Dividends Forecast (cents per share) 
2005 2006 2007 2008 
EPS 31.2 62.6 77.7 88.7 
DPS 20.0 39.5 48.0 54.0

thx

ms


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## Lachlan6 (14 March 2006)

Chart says yes. From daily perspective may see a retracement, however when its going like this why not hold. I dont, too expensive for me, but the chart is spot on. What a day today.


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## Ann (14 March 2006)

Hi Michael and Lachlan6,

Doing very, very well isn't it? Most impressive. I would have expected it to slow down in unison with some of the big miners.....not to be so far.


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## michael_selway (15 May 2006)

*Re: WOR - Worley Parsons -*



			
				michael_selway said:
			
		

> Thing is, the 2006 forecast seems very conservative 63.6 EPS?
> 
> *CEO said “modest improvement on the first half’s very good result” u would at least say 20% more like 30-50%?. Plus surprise contracts could mean even more etc*
> 
> ...




Hm annoucement out today, yeah just as i thought, CEO's "modest" = about 20% improvement on the 1st half, not 10% as the consesus forecast thought. However im guessing when eth final is out in August its likely to be 30-40% improvement on first half.



> At the release of the 2006 first half net profit after tax result the company indicated that:
> 
> “We expect the markets for WorleyParsons’ services will continue to be strong. Our key markets and sectors continue to experience positive conditions, in particular hydrocarbons and power.
> 
> ...




http://www.asx.com.au/asxpdf/20060515/pdf/3wr5bd0v47js8.pdf
http://www.smh.com.au/news/business/leighton-marches-to-260m-beat/2006/05/15/1147545261666.html


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## michael_selway (17 June 2006)

Date: 16/6/2006 
Author: Tim Findlay 
Source: The Australian Financial Review --- Page: 35 

When WorleyParsons moves to the S&P/ASX 100 index on 16 June 2006, fund managers will not be celebrating. The Australian engineering firm is a favourite with small-capitalization stock specialists. Since listing in November 2002, the shares have returned more than 1,000 per cent. Small-cap managers will be forced to sell the stock when it is removed from the Small Ordinaries Index, where it has a weighting of three per cent. On the other hand, large-cap managers will not have to buy the stock when it moves to the larger S&P/ASX 100, where it will be only a minor player. Many managers do not like the fact they have to sell a good stock because of index changes


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## Smurf1976 (17 June 2006)

michael_selway said:
			
		

> Many managers do not like the fact they have to sell a good stock because of index changes



One of the inherent problems with managed funds. If you're just going to track the index then not much need for a manager at all...


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## chennyleeeee (29 June 2006)

What I might say might seem a little niave but has anyone noticed that thier stock chart seems to match their revenues but not their profits or their cash flows. Historically for a $4 billion company, would you really expect 80 million dollars? I havent had a look at their recent announcements yet but I wouldnt expect something super considering the commodities and energy market is dying down somewhat. Their revenues have quadified but their profits have only doubled. I dont know but I would like to see it making at least 300 million a year before i invest here. Okay unexpected announcements do good on a company, but you have to be reasonable people, hence Paladin, hence Poseidon, hence the entire Tech Boom.

This company is owned by one of my friends friend's dad, lol. His dad's must be pretty bloody happy now. But then again, all that could wash away as quickly as it came. If you owned the company, would you start cashing out? The best time is the overpriced time. lol

CHEN


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## chennyleeeee (29 June 2006)

I'm probably talking s**t, feel free to debate my opinions but honestly, I dont like the fundamentals, I dont care how good they look I just dont like it. Its a good company but NOT that good. Companies that keep releasing unexpected projections are just giving markets a false impression of the company.

Patrick corp is a 4 billion dollar company, makes 200 mil a year, Fairfax, $252, Boral, $376, Zinifex $250, Leighton, $205 to name a few in the same cap range.

CHEN


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## michael_selway (29 June 2006)

chennyleeeee said:
			
		

> I'm probably talking s**t, feel free to debate my opinions but honestly, I dont like the fundamentals, I dont care how good they look I just dont like it. Its a good company but NOT that good. Companies that keep releasing unexpected projections are just giving markets a false impression of the company.
> 
> Patrick corp is a 4 billion dollar company, makes 200 mil a year, Fairfax, $252, Boral, $376, Zinifex $250, Leighton, $205 to name a few in the same cap range.
> 
> CHEN




Well current/forward PE is quite high

Earnings and Dividends Forecast (cents per share) 
2005 2006 2007 2008 
EPS 31.2 67.0 86.7 103.3 
DPS 20.0 40.5 51.8 62.0 

EPS(c) PE Growth 
Year Ending 30-06-06 67.0 28.5 114.8% 
Year Ending 30-06-07 86.7 22.0 29.4% 

But thing is it keep surprising with its Earnings. Basically its a compnay in the right place (high globally based) and at the right time (igh commodity prices). Its services also cover the right areas

WOR operates across 5 key sectors: Oil & Gas; Refining, Petrochemicals & Chemicals; Minerals & Metals; Power & Water; and Industrial & Infrastructure. Operations span 14 countries in the Asia Pacific, Middle East and United States and its client base includes Alcoa, BP, Shell, Origin, and BHP Billiton. 

thx

MS


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## chennyleeeee (29 June 2006)

Even with the 2008 forecasted EPS, the company is still on a P/E ratio well above 15 and with this much volatility in the market, Im surprised there's so much confidence. I still think its too high to be buying this company. Never know, some of you might be reading this in 2008 and start thinking, unlucky naive man. But then again if i want a tenbagger, i dont think WOR will be the one to offer it. =)

CHEN


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## scsl (1 September 2006)

WOR reported its full year results on Tuesday (29th August). Despite being slightly above expectations with its 106% increase in net profit, the market has since pounded the stock because of growth concerns over the coming year. 

The last 4 days has seen the sp down 13%. I'm not much of a technical trader (still learning   ) but I think WOR has been oversold and that we could see a suckers' bounce sometime next week. Any one think differently? e.g. are the growth concerns serious enough to see the sp fall even further? WOR has been trading at a P/E above its competitors and perhaps the market is trying price out the previous high growth expetations.

Also, looking at the candlestick chart, WOR bounced sharply after it fell to an intraday low of about $17.50 on the 14 June this year. So will we perhaps see WOR close up sharply on Monday? On the other hand, a close below $17.40 could be very bearish. WOR will be a good long/short CFD trade in the coming days.

cheers,
scsl


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## michael_selway (1 September 2006)

scsl said:
			
		

> WOR reported its full year results on Tuesday (29th August). Despite being slightly above expectations with its 106% increase in net profit, the market has since pounded the stock because of growth concerns over the coming year.
> 
> The last 4 days has seen the sp down 13%. I'm not much of a technical trader (still learning   ) but I think WOR has been oversold and that we could see a suckers' bounce sometime next week. Any one think differently? e.g. are the growth concerns serious enough to see the sp fall even further? WOR has been trading at a P/E above its competitors and perhaps the market is trying price out the previous high growth expetations.
> 
> ...




the surprise wasnt as high as many woudl have thought

they said 20% icnrease on first half, but they onyl got 25% increase on the half

people were thinkign 30-40% i suspect

thx

MS


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## scsl (5 September 2006)

WOR closed at $17.48 today. I think we could see the sp head lower soon, but I got a feeling that it might bounce up a bit before resuming south.

I am not very proficient in technical analysis (but am learning eagerly) and would appreciate any thoughts. 

Thanks,
scsl


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## michael_selway (5 September 2006)

scsl said:
			
		

> WOR closed at $17.48 today. I think we could see the sp head lower soon, but I got a feeling that it might bounce up a bit before resuming south.
> 
> I am not very proficient in technical analysis (but am learning eagerly) and would appreciate any thoughts.
> 
> ...




Interesting, it did bounce up today

However its lack of NPAT guidance for 2007, have left people wondering what they will earn in years to come

Earnings and Dividends Forecast (cents per share) 
2006 2007 2008 2009 
EPS 67.9 86.7 102.9 113.3 
DPS 41.0 52.0 63.0 66.0 

thx

MS


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## 3 veiws of a secret (25 October 2006)

Well this share is a great 'day trading' rollercoaster -thoroughly enjoying the volatile aspect of today


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## scsl (25 October 2006)

3 veiws of a secret said:
			
		

> Well this share is a great 'day trading' rollercoaster -thoroughly enjoying the volatile aspect of today



I agree, there's been a lot of that the last two months. I'm curious, do you think WOR sp will 'get going' again once the market in general picks up? Has all the negative sentiment following its dissapointing profit result and forecast been flushed out?


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## 3 veiws of a secret (26 October 2006)

scsl said:
			
		

> II'm curious, do you think WOR sp will 'get going' again once the market in general picks up? Has all the negative sentiment following its dissapointing profit result and forecast been flushed out?





I can only say I have never known about WOR until recently when it hit $22 levels? .Yesterday the market looked flat for the shares I was honning onto. Then I hooked up to WOR and watched it slide in an orchestrated form from $18.29 down to $17.65 in say 30 mins ,and when the worm turned boy I was surfing. Ask me about this share ,I must admit apart from the announcements ,I'm of little use to this post.


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## moses (4 November 2006)

Smart money and demand are rising together even while the price drops. The smart money pulled out when the price was rising last month but has now re-entered...so presumably the SP will follow, UP.


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## Halba (4 November 2006)

they are now in the design of nuclear power plants...isn't that a blue sky market?


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## michael_selway (5 November 2006)

Halba said:
			
		

> they are now in the design of nuclear power plants...isn't that a blue sky market?




Yes WOR imo is one of the best leveraged companies on the ASX, pity its got a high PE already   

thx

MS


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## GreatPig (5 November 2006)

A current chart.

Struggling with resistance at $19.

GP


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## scsl (6 November 2006)

GreatPig said:
			
		

> A current chart.
> 
> Struggling with resistance at $19.
> 
> GP



Got up to $19.42 today, finishing at $19.22, up 3.4%. Are you on this one GP? Do you have a price target? 

I've been holding off on this one since the high 16s. This is what you get for not following your gut feeling!


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## GreatPig (17 November 2006)

Well I just got rumbled on this one today 

After yesterday's drop and close below my trendline, I decided to sell if it didn't head up again today.

This morning it duly dropped from yesterday's close of $18.94 down to around $18.60, so I sold out at $18.61.

Now it's back up to $19.46 - up about 2.8% from yesterday - with $18.60 being the low 

So I sold out for a few hundred dollar loss, whereas right now I'd be a few hundred up again. 

Expect over $20 on Monday!

GP


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## bigdog (17 November 2006)

Greatpig,

I am very thrilled about WOR SP increase after recent roller coaster ride.

Great reports lately which have helped

LT buy and got in at $14l.


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## michael_selway (18 November 2006)

GreatPig said:
			
		

> Expect over $20 on Monday!
> 
> GP




how do you know?

thx

MS


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## GreatPig (18 November 2006)

michael_selway said:
			
		

> how do you know?



Because I just sold, so it's almost a dead certainty...

GP


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## Sean K (19 November 2006)

GreatPig said:
			
		

> Because I just sold, so it's almost a dead certainty...
> 
> GP



Thanks GP, I'll be doing a Chicken and 'loading up the truck' on this Mon am.


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## GreatPig (19 November 2006)

Well it's happened with a dozen or so other stocks I've sold over the last few months, so I don't see why this one should be any different.

One example was REA. Bought mid September for $4.19, sold mid October for $4.09 as it looked to be dropping off yet again. From the very next day it started back up and basically didn't stop until hitting $5 last week.

I seem to have developed quite an art of trading a strong uptrend yet losing money on every trade  (okay, exaggerating a bit, but it feels like it sometimes).

GP


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## bigdog (21 December 2006)

What dream run WOR has had with the SP over the past three months

Today SP is currently $21.26 up 31 cents for the day and is increase of 34% since Sept 20.

WOR announced today WorleyParsons awarded EPCM contract in Nigeria worth $US220 million

http://asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00681094

There was press suggestion that WOR could be a target and possible reason for big SP increases this week!


This exhibit shows SP on monday each week where SP closed 20-Sep-06at $15.90
Date-------Open--High--Low-Close--Volume
20-Dec-06	21.00	21.10	20.72	20.95	1,119,445
19-Dec-06	19.80	20.88	19.74	20.70	1,546,696
18-Dec-06	19.50	19.95	19.45	19.91	1,296,102
11-Dec-06	18.83	19.10	18.81	19.09	315,582
4-Dec-06	18.85	19.19	18.73	19.14	434,685
27-Nov-06	19.07	19.28	18.91	19.03	314,459
20-Nov-06	19.50	19.50	19.05	19.05	511,328
13-Nov-06	19.47	19.62	19.23	19.38	368,457
6-Nov-06	18.99	19.42	18.84	19.22	1,095,516
30-Oct-06	18.20	18.25	18.03	18.20	325,453
23-Oct-06	18.10	18.41	17.89	18.15	421,917
16-Oct-06	18.50	18.87	18.38	18.85	762,698
9-Oct-06	16.56	16.94	16.56	16.90	772,690
2-Oct-06	16.68	17.00	16.67	16.91	424,805
20-Sep-06	15.99	16.11	15.85	15.90	1,195,060

I hold


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## michael_selway (23 December 2006)

Yeah not bad WOR

Earnings and Dividends Forecast (cents per share) 
2006 2007 2008 2009 
EPS 67.9 88.1 112.2 118.8 
DPS 41.0 51.3 59.0 66.0 

EPS(c) PE Growth 
Year Ending 30-06-07 88.1 24.0 29.8% 
Year Ending 30-06-08 112.2 18.8 27.4% 



> WorleyParsons announces today that it’s 49% owned Nigerian operating entity DeltaAfrik, has been awarded a five year contract to provide Engineering, Procurement and Construction Management (EPCM) services to Mobil Producing Nigeria to support the execution of a portfolio of projects offshore Nigeria. The estimated contract value for WorleyParsons/DeltaAfrik direct services is USD220 million. This program of work involves upgrades and expansion of Mobil Producing Nigeria offshore facilities and pipelines as a means of ensuring the continuing operations of its offshore production facilities and supporting infrastructure in Nigeria. “We are very pleased that Mobil Producing Nigeria has selected WorleyParsons and DeltaAfrik to execute this very important project,” said WorleyParsons CEO Mr John Grill. “This is an important achievement that will allow WorleyParsons to further invest in the development of local Nigerian resources, it reinforces our commitment to Nigeria and to the provision of our Asset Integrity and Business Improvement Services core offering to clients.”




thx

MS


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## bigdog (25 January 2007)

WOR SP has done very well today on ANN today profit reporting and currently up $1.12

WOR    $21.62    +$1.12  +5.46% 1,024,537 shares $22,022,765  
@ 25-Jan 14:23:06 

ASX Announcement today
WOR 8:30 AM  Half Year 2007 Interim Results 
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00687355
WORLEYPARSONS LIMITED (ASX:WOR)
Half Year 2007 Interim Results
WorleyParsons has experienced a continuation of favourable trading and business conditions across its operations in the 2007 financial year to date, with results ahead of expectations.

Whilst the external audit and final internal accounting and assurance processes for the Interim Result have yet to be completed, based on an initial review the Net Profit After Tax for the 6 months to 31 December 2006 is expected to be more than 15% higher than that reported for the 6 month period from 1 January 2006 to 30 June 2006.

Subject to conditions remaining favourable in all its markets, the Company expects further increased earnings in the second half of the 2007 financial year.

I hold WOR


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## michael_selway (25 January 2007)

bigdog said:
			
		

> WOR SP has done very well today on ANN today profit reporting and currently up $1.12
> 
> WOR    $21.62    +$1.12  +5.46% 1,024,537 shares $22,022,765
> @ 25-Jan 14:23:06
> ...




Do you reckon thats inline with expectations? maybe be a bit better

*EPS(c) PE Growth 
Year Ending 30-06-07 89.9 22.8 32.4% 
Year Ending 30-06-08 110.2 18.6 22.6% 

Earnings and Dividends Forecast (cents per share) 
2006 2007 2008 2009 
EPS 67.9 89.9 110.2 116.3 
DPS 41.0 51.3 63.0 69.0 * 

thx

MS


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## scsl (25 January 2007)

michael_selway said:
			
		

> Do you reckon thats inline with expectations? maybe be a bit better



Well, judging by the way its sp reacted, you'd have to say it was a lot better than what analysts had expected. Keep in mind that analysts would have been pretty cautious with WOR, seeing as a 106% increase in net profit last year wasn't deemed 'good enough' (which led to a two month sell-off) and concerns at the time of future growth. 

WOR is a perfect example of a very good company that has its sp pounded for not delivering a good enough result for the analysts and institutional investors. But look what happens next - its up 41% since its low in September. Lesson for those who sold out along with the crowd: a well-run company that has continually delivered shouldn't be punished for an unsatisfactory result!

WOR was $1.80 four years ago and has returned over 1,100% for shareholders over this time (not including dividends). I'm pretty confident the uptrend will resume very soon.

(Don't hold. I did a few CFD trades as it recovered from its September lows.)


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## bigdog (8 February 2007)

ASX announcements today

SP closed yesterday at $22.60 and up $1.20 this week.
-- I hold

WOR 8:29 AM   Interim Results Release 
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00691503

Interim Results Release
Highlights:
 1st half net profit up 53.0% to $94.5m
 1st half net profit increases 22.3% over 2006 2nd half result
 Continued strong operating results
 Interim dividend of 28.0 cents (2006: 18.5 cents)
 Acquisition of Colt announced today

Professional services company WorleyParsons Limited today announced a net profit after tax of $94.5m for the six months to 31 December 2006, representing an increase of 53.0% over previous corresponding period and a 22.3% increase compared to the previous half year ended 30 June 2006.

The result was earned on aggregated revenue of $1,459.8m, an increase of 28.3% on the $1,137.8m reported for the half year ended 31 December 2005. EBIT for the six months was $131.2m, an increase of 41.2% from the $92.9m reported in the previous corresponding period.

The EBIT margin for the group increased to 9.0% compared to 8.2% in the previous corresponding period. After tax, the Company earned a net margin on aggregated revenue of 6.5% for the six months compared to the 2005 net margin of 5.4%. The corporate tax rate was 24.7% compared with the 2006 full year result of 28%.

Basic earnings per share for the period were 46.2 cents per share, an increase of 53.0% from the 30.2 cents per share reported for the previous corresponding period.  

Included in the result is a contribution to pre tax earnings of $2.3m relating to the sale of some of the Company’s share in the Esperance Energy Project to the other shareholder in the project, ANZIS.

Dividend policy and declaration  
The Company’s current policy is to make half yearly dividend payments to shareholders subject to available profits, working capital requirements and the level of borrowings.

Generally, around 60% - 70% of the Company’s full year net profit after tax is made available for distribution with the balance being retained for funding ongoing growth. Dividends are franked to the extent imputation credits are available.

In line with this policy, the Directors have declared an interim dividend of 28.0 cents per share, franked at 22.1% (6.2 cents per share). Last year’s interim dividend was 18.5 cents per share (franked at 5.4 cents per share). The dividend will be payable on 14 March 2007 for shareholders on the register as at midnight (Eastern Standard Time) on 22 February 2007.


WOR 8:31 AM  Accelerated Renounceable Offer to raise approx $479.9m 
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00691505
Offer Structure
WorleyParsons Limited (the “Company”) has announced a 1 for 9 accelerated renounceable entitlement offer in the form of an AREO capital raising (the “Entitlement Offer”), at an issue price of $21.00 (the “Offer Price”) per new share to raise a total of approximately $479.9 million.  Full details will be set out in a Prospectus which is expected to be lodged with ASIC on or about 14 February 2007 at which time it may also be viewed at www.worleyparsons.com.au.

WOR 8:29 AM  $A1.13 billion acquisition of the Colt Companies 
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00691504
WorleyParsons today announces the $A1.13 billion acquisition of the Colt Companies (“Colt”), a leading Canadian design and project services business. The acquisition creates a market leader in the high growth Canadian hydrocarbons market and provides a springboard for the next phase of WorleyParsons growth.

The acquisition price represents a multiple of 9.7 times pro forma EBITDA (earnings before interest tax depreciation and amortisation) of Colt for the 12 months ended 31 January 2007. On the assumption of a full year contribution by Colt to WorleyParsons, the pro forma accretion to the combined group’s earnings per share (before synergies, amortisation and additional
corporate and integration costs) for the 12 months to 31 December 2006 would be 16%. The Directors believe there is the potential for material synergies for the combined group. The acquisition is likely to complete in early March 2007.

WOR 8:29 AM  Half Yearly Report/Half Year Accounts 
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00691502


----------



## bigdog (8 February 2007)

ASX ANN WOR 9:08 AM  Trading Halt (2 + 2 business days)
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00691517

Trading halt until Feb 14 or when ann released to the market


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## bigdog (9 February 2007)

I hold WOR

news article today

Can John Grill crack $1 billion in WorleyParsons shares?

http://www.crikey.com.au/Business/2...-crack-1-billion-in-WorleyParsons-shares.html

Date: Friday, 9 February 2007
By Stephen Mayne, owner of 29 WorleyParsons shares
The papers are gushing today about the $1.1 billion acquisition of Canada’s oil services company Colt Group by Perth-based engineering company WorleyParsons.

The AFR’s Street Talk column even quotes UBS, which is running the $480 million rights issue, as predicting the shares will hit $30.20. WorleyParsons shares are suspended whilst the raising is bedded down but they last traded at just $22.60.

If co-founder and CEO John Grill takes up his full entitlement and the mooted re-rating does indeed come through, he’ll quickly join the exclusive club of Australians with a paper holding exceeding $1 billion. At the moment, he’s ranked 15th as the following list demonstrates:

Top 15 personal or family holdings in Australian listed companies

1. News Corp, Rupert Murdoch: $11.95 billion

2. PBL, James Packer: $5.25 billion

3. Westfield, Frank Lowy: $3.81 billion

4. Aristocrat, Ainsworth family: $2.33 billion

5. Reece Australia, Wilson family: $1.74 billion

6. Fortescue Metals, Andrew Forrest: $1.62 billion

7. Harvey Norman, Gerry Harvey: $1.44 billion

8. Transpacific Industries, Terry Peabody: $1.29 billion

9. Seven Network, Kerry Stokes: $1.08 billion

10. Multiplex, Roberts family: $1.03 billion

11. David Coe, Allco Finance Group: $937 million 

12. Rural Press, Fairfax family: $862 million

13. Ramsay Healthcare, Paul Ramsay: $846 million

14. Billabong, Gordon Merchant: $804 million

15. Worley Parsons, John Grill: $732 million

WorleyParsons is a fantastic success story in anyone’s language. Whilst Australia has failed to develop a global oil or gas company, WorleyParsons is quickly emerging as a serious global player when it comes to oil and gas services and engineering.

The stock was floated at just $2 a share four years ago and is about to have a capitalisation in excess of $6 billion if this predicted share price surge does indeed come through.

It didn’t get lucky with resource discoveries or make billions gouging captive Australian customers like the bank cartel, but is instead a genuine success story in a competitive global industry. If only Australia had developed more companies like WorleyParsons.


----------



## Halba (9 February 2007)

any analysis to back up the $30 claim? Mkt cap is $6bn @ $30. Seems a bit rich for an already fully valued stock

this raises some conflict of interest arguments. why is the bookrunner UBS claiming the shares will hit $30, seems unethical


----------



## michael_selway (11 February 2007)

Halba said:
			
		

> any analysis to back up the $30 claim? Mkt cap is $6bn @ $30. Seems a bit rich for an already fully valued stock
> 
> this raises some conflict of interest arguments. why is the bookrunner UBS claiming the shares will hit $30, seems unethical




I wonder what price it will open on

*WOR - Earnings and Dividends Forecast (cents per share) 
2006 2007 2008 2009 
EPS 67.9 95.2 113.9 125.5 
DPS 41.0 52.8 64.5 73.0 * 

Do you think MND is the next WOR?

*Earnings and Dividends Forecast (cents per share) 
2006 2007 2008 2009 
EPS 35.2 53.9 59.8 65.1 
DPS 33.0 44.0 44.5 55.0 * 

thx

MS


----------



## watsonc (12 February 2007)

Worley Parsons 50-50 chance of aquiring desalination plant contract for sydney. Just some news off the grape vine!


----------



## bigdog (12 February 2007)

WOR has the experience with Desalination Plants in Perth which is the 3rd largest Desalination Plant in the world

www.worleyparsons.com/v5/pdf.aspx?file=Capability_Differentiators Profile.pdf 

WorleyParsons has equity in two local developments – power stations in Esperance and Exmouth. Additionally, the Perth team is supporting the development of two unique projects in the region – Perth desalination plant and the Narrogin Bioenergy power plant.

Perth Seawater Desalination Plant
Client: Multiplex Degremont Joint Venture
Location: Kwinana, Australia
Timeframe: Sep 2004 ”” Sep 2006

To provide surety of water supply in a climate that has seen a dramatic fall in water levels in the major water supply dams and declining groundwater levels, the Water Corporation elected to build a seawater desalination plant.

The $300 million Perth Seawater Desalination Plant is the largest of its kind in the southern hemisphere and one of the largest seawater desalination plants in the world. It will provide up to 144 megalitres of potable water a day for Perth’s integrated water distribution system and will provide 17% of Perth’s
water consumption.

The project has been subject to considerable environmental scrutiny and this plant will incorporate the most rigorous environmental monitoring and reporting applied to any seawater desalination plant. A key challenge for the WorleyParsons team was to produce engineering outputs in a project schedule that required design to proceed in parallel to procurement and construction.


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## bigdog (14 February 2007)

ASX ann today

WOR 9:52 AM  Successfully Completes Institutional Entitlement Offer 
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00692978

Second ANN
WOR 9:54 AM  Prospectus and Notice of Meeting 
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00692982


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## bigdog (14 February 2007)

SP up $5.15 or 22.79% after trading halt

WOR   $27.75    +$5.15  +22.79%  417,540 share $11,409,280  
14-Feb 10:33:50  

The 1 for 9 issue at $21.00 are now a real bargin!

WorleyParsons Limited (the “Company”) has announced a 1 for 9 accelerated renounceable entitlement offer in the form of an AREO capital raising (the “Entitlement Offer”), at an issue price of $21.00 (the “Offer Price”) per new share to raise a total of approximately $479.9 million

I hold WOR


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## michael_selway (14 February 2007)

bigdog said:
			
		

> SP up $5.15 or 22.79% after trading halt
> 
> WOR   $27.75    +$5.15  +22.79%  417,540 share $11,409,280
> 14-Feb 10:33:50
> ...




Yeah crazy stuff

*EPS(c) PE Growth 
Year Ending 30-06-07 95.1 23.8 40.1% 
Year Ending 30-06-08 117.9 19.2 24.0% * 

*Earnings and Dividends Forecast (cents per share) 
2006 2007 2008 2009 
EPS 67.9 95.1 117.9 139.7 
DPS 41.0 56.5 65.0 79.7 * 



> Date: 9/2/2007
> Author: Michael Weir
> Source: The West Australian --- Page: 53
> Australian mining and civil engineering group WorleyParsons has announced an acquisition in Canada. It will pay $A1.13bn for the design and project services group Colt Companies. Worley CEO John Grill says the company, which also recorded a 53% rise in 2006-07 interim net profit to $A94.5m, will pursue further purchases. Colt services the petroleum mining sector and will contribute some 4,600 North American staff to the total combined workforce of 20,400. Worley will issue stock to the target, raise close to $A480m from existing shareholders, and take on debt of $A333.2m to fund the merger.





thx

MS


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## bigdog (12 March 2007)

ASX ann March 12

WOR 1:46 PM   Completion of Acquisition of the Colt Companies 
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00701861
http://www.asx.com.au/asxpdf/20070312/pdf/311f0ydpf8gyht.pdf

Following receipt of regulatory clearance and satisfaction of other conditions WorleyParsons is announcing today that it has completed the acquisition of the Colt Companies.

In funding the acquisition, the Company raised $345 million through the issue of 16.435 million new shares in the Institutional Entitlement Offer and will raise $135 million through the issue of 6.416 million new shares in the Retail Entitlement Offer, both at a price of $21.00 per share.

Shares not taken up in the Institutional and Retail Entitlement Offers were sold via bookbuilds involving both existing and new institutional investors. The bookbuild clearing prices for those shares were $28.00 and $25.50 per share respectively.

The acquisition also involved the issue of 12.3 million Exchangeable Shares to the vendors at $28.00 per share. The remaining consideration was satisfied by a cash payment.


----------



## coyotte (12 March 2007)

Does that boil down to that they will flog the SP down to below $21.

SBM, CIY just 2 examples.

Cheers


----------



## bigdog (10 May 2007)

WOR - WORLEYPARSONS currently hit all 12 month time high of $30.04 up $1.87

SP currently 
WOR $29.78 +$1.61 +5.72 692,401 shares $20,158,360 @ 10-May 15:43:39 

Does anyone know the reason for big increase?


----------



## GRTRADER (10 May 2007)

They are taking over / or have just taken over a canadian company that is a leader in servicing the oil sands business (i think - or something close) + Bell potter gave them a very good recommendation last night


----------



## reece55 (11 May 2007)

If the new support line of about $28.50 holds here for WOR, today could actually prove a very good entry, despite the weak lead from Wall Street......

Classic pattern where the stock retraces it's gains after a nice close yesterday and continues on it's merry way..... UGL is another good example of this, albeit on a longer time frame....

Best of luck to all holders here....

Cheers


----------



## reece55 (11 May 2007)

Well, support held today nicely, did exactly as I expected it would ........

Entered here @ 29.02, square at the close..... I will have to wait until after the weekend to see the result....

Hopefully my chart gets on this post, finally got off my butt and learned how to attach items to posts!!!

Cheers
Reece


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## reece55 (20 May 2007)

Well, moved as predicted..... just another example of a stock that is in a strong up trend in our bull market.

Took my profits at the open on Friday, just under 5% for 5 days was good enough for me in a CFD position..... Could just as easily move further, but I personally think the index is looking very toppy at the moment and want to lock in profits quickly...

Cheers
Reece


----------



## reece55 (23 June 2007)

This one is looking oooo soooo nice atm.......

We nearly broke to new highs today and I notice upon review of my short data a great deal more short sellers have been suckered in in the view it's expensive....

Have a look at my blog for the short data, they have at least 8 days to cover based on Thurdsdays close, must be sweating after todays move......

Short squeeze opportunity beckons here....... Although, given the US weakness, it will be likely it will open lower on Monday......

Cheers


----------



## bigdog (25 June 2007)

Reece this is even looking better today currently up 65 cents and the overal market is down 43 points

WOR   $31.65    +$0.65  +2.10% 92,885 shares $2,851,551 @  25-Jun 10:24:13


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## bigdog (25 June 2007)

Looking even better as the day goes by and up $1.12

WOR   $32.12    +$1.12  +3.61% with high of $32.17 & low of $30.96  199,716 shares $6,261,606  @ 25-Jun 11:06:41  

Volume looking VG today and for the past two days
Date-----	 Close 	-Volume		
22-Jun-07	 31.00 	996,242
21-Jun-07	 29.95 	1,287,192
20-Jun-07	 29.39 	615,703
19-Jun-07	 29.70 	451,677
18-Jun-07	 29.69 	729,161
15-Jun-07	 29.09 	338,884
14-Jun-07	 28.85 	663,326
13-Jun-07	 29.15 	848,313
12-Jun-07	 28.80 	435,280
08-Jun-07	 29.01 	594,303
07-Jun-07	 29.90 	371,504


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## vishalt (25 June 2007)

Macquarie Equities upgraded WOR to outpeform @ $32.50. 

Worley's report is a gamble as usual, it it smashes expectations it'll rally ballistic, if its slightly below expectations it'll tumble, which would make a great buy. 

Anyone buying WOR?


----------



## reece55 (25 June 2007)

bigdog said:


> Reece this is even looking better today currently up 65 cents and the overal market is down 43 points
> 
> WOR   $31.65    +$0.65  +2.10% 92,885 shares $2,851,551 @  25-Jun 10:24:13




Hi BigDog

I was hoping for a retrace of that leap up, but it looks like market had a different thought in order..... Hope your on this one mate....

Man o man those shorts must be sweating...... They would still have days of stock to buy back....

Cheers


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## bigdog (25 June 2007)

reece55 said:


> Hi BigDog
> 
> I was hoping for a retrace of that leap up, but it looks like market had a different thought in order..... Hope your on this one mate....
> 
> ...




Reece, I got in February 2006 @ $14.35, holding for 10 years and laughing

The attached Padley article recomends WOR buy for next 10 years

http://www.theage.com.au/news/busin...r-10-years-time/2007/06/15/1181414546482.html

2017? Buy now! Here are the tips for 10 years' time
Marcus Padley
June 16, 2007

Extract only

BUFFETT reckons he wouldn't care if the
sharemarket closed for 10 years. OK, done. As of next Friday they are going to close the sharemarket for 10 years. You have a week to get set. What are you going to buy? Here's my guess.

Mining services companies follow. If the resources sector makes money, then so will these. Let's have a few Worley Parsons and some of those Boart Longyear. I know everyone bagged them on the float but they just went into the ASX 200 and will be climbing, not falling.

attached is Padley article from


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## vishalt (25 June 2007)

Cheers for that article BigDog, gave me a trading idea right there ... Boart Longyear looks quite good!

Might just be the next Worley Parsons hey!


----------



## bigdog (26 June 2007)

vishalt said:


> Cheers for that article BigDog, gave me a trading idea right there ... Boart Longyear looks quite good!
> 
> Might just be the next Worley Parsons hey!




Vishalt, I am interested to hear about your trading idea; will you share your idea?
-- with Forum or PM me!!!
-- assume with Worley Parsons and Boart Longyear


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## vishalt (26 June 2007)

lol im just assuming big dog, take a look at BYL, it floated in april, and it will report mid-August. 

asssuming it has a good report, i dont see why it can perform the same way as worley parson's shares have


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## bigdog (26 June 2007)

Another great day for Worley with SP up 3.62%

WOR   $32.92    +$1.15  +3.62%  226,388 shares $7,318,383 @ 26-Jun 12:37:08


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## bigdog (28 June 2007)

The Worley SP has risen $3.70 or 12.59% to $33.09 over the past five days with no ASX announcements or speeding tickets!

Yesterday also saw WOR all time SP high of $33.24 or 13.1% increase in past five days.

SP increased 41 cents yesterday when the ASX 200 index lost 2 per cent or 124 points to 6184.2 -- wiping away all of the gains of the past two weeks. 

--------------------------- Daily
Date ---- Close - Volume -- $ incr	% increase
27-Jun-07 33.09	1,360,122	 0.41 ..	12.59%
26-Jun-07 32.68    . 779,677	 0.91 	
25-Jun-07 31.77 	1,060,993	 0.77 	
22-Jun-07 31.00 	. 996,242	 1.05 	
21-Jun-07 29.95 	1,287,192	 0.56 	   
20-Jun-07 29.39 	. 615,703

I hold WOR


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## bigdog (28 June 2007)

bigdog said:


> The Worley SP has risen $3.70 or 12.59% to $33.09 over the past five days with no ASX announcements or speeding tickets!
> 
> Yesterday also saw WOR all time SP high of $33.24 or 13.1% increase in past five days.




Today Worley is up $1.60 or 4.84% on no news!!

WOR   $34.69    +$1.60  +4.84  $34.69  56,991 shares  $1,909,087  28-Jun 10:21:10


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## zuluwarrior08 (29 June 2007)

bigdog WOR in a trading halt... Announcement? speeding ticket?
what do you reckon? Its been going like a house on fire....


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## bigdog (29 June 2007)

zuluwarrior08 said:


> bigdog WOR in a trading halt... Announcement? speeding ticket?
> what do you reckon? Its been going like a house on fire....




Something is happening!

Special after trading yesterday were high 360,006 shares (48% of normal trades)
WOR 28-Jun-07	16:34:35	 $33.77 	105,000	 $3,546,060 	SPXT
WOR 28-Jun-07	16:34:14	 $33.80 	105,000	 $3,549,042 	SPXT
WOR 28-Jun-07	16:22:34	 $33.95 	45,006	 $1,527,954 	SPXT
WOR 28-Jun-07	16:18:11	 $33.80 	105,000	 $3,549,042 	SPXT

Total volume yesterday June 28 in normal trading totaled 743,699 shares

There were also 21,644 special sales this morning prior to opening 10 AM
Time(AEST) Price Volume Value Condition Codes 
08:15:02 $33.7893 2,448 $82,716.20 LTXT 
07:23:13 $33.9800 12,000 $407,760.00 LTXT 
07:13:12 $29.2000 3,084 $90,052.80 EC 
07:12:24 $27.7400 4,112 $114,066.88 EC 

There were many special sales this morning many coys (normally only BHP)
-- refer my posting
https://www.aussiestockforums.com/forums/showthread.php?p=174952#post174952


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## zuluwarrior08 (29 June 2007)

Yeh I noticed BHP and LHG too. Maybe fund managers buying to get their bonus?

WOR has such good potential in terms of economic manipulation in the future by locking in contracts now to take advantage of the resources boom. I like it because the price of commodities doesn't affect it directly due to their hedged contracts. To me this seems perfect for large Funds to stock up on it today being the last day of FY06/07.

Lets hope its up and away


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## bigdog (29 June 2007)

WOR speeding ticket ASX ANN

WOR is now trading after halt:
WOR   $34.38    +$0.32  +0.94%  119,357 shares $4,071,359  29-Jun 11:16:12 
  - high of $$34.95 

29/06/2007  Response to ASX Share Price Query 

The company is not aware !!!

http://www.asx.com.au/asxpdf/20070629/pdf/3135z76mlzjx1q.pdf


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## zuluwarrior08 (29 June 2007)

lots happening here, down 3% in the last 15mins

what the?

Maybe the speeding ticket scared away the lightweights?


----------



## Aussi Maddog (4 July 2007)

Where to from here $40-$50+ or a dift downwards to around $25.

What I like at present is this company just keeps coming out and smashes forecasts. 

Postves: rerating after reating.

With demand for services it is hard to even go past this one even at current levels, but hard to determine where ceiling is from here.


----------



## bigdog (4 July 2007)

2017? Buy now! Here are the tips for 10 years' time
Marcus Padley
June 16, 2007

Extracts of article:
BUFFETT reckons he wouldn't care if the sharemarket closed for 10 years. OK, done. As of next Friday they are going to close the sharemarket for 10 years. You have a week to get set. What are you going to buy? Here's my
guess.

Mining services companies follow. If the resources sector makes money, then so will these.  Let's have a few Worley Parsons and some of those Boart Longyear. I know everyone bagged them on the float but they just went into the ASX 200 and will be climbing, not falling.


----------



## bigdog (9 July 2007)

What a day today is with SP high of $36.33 up $2.23

*Currently*
WOR   $36.04    +$1.94  +5.69% high $36.33 329,672 shares $11,771,757 @ 09-Jul 11:35:12


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## reece55 (9 July 2007)

Hi Bigdog

God, still can't believe that I didn't buy this thing at $31.50........

Textbook example of a short squeeze here, broke out of a resistance point, didn't even retrace and hasn't stopped flying since.... At the close of business on Friday, there were still 4.9 Mil short, a huge huge position to be hanging on too. I wonder if they were busy covering today????

Good luck to all holders here, it should retrace (hahaha eventually!!!)

Cheers


----------



## michael_selway (9 July 2007)

reece55 said:


> Hi Bigdog
> 
> God, still can't believe that I didn't buy this thing at $31.50........
> 
> ...




hehe not bad, but PE is gettignhigh, although have to wait and see if it canbeat analysts forecasts

*Earnings and Dividends Forecast (cents per share) 
2006 2007 2008 2009 
EPS 67.9 104.1 140.0 160.0 
DPS 41.0 62.1 79.4 94.3 

EPS(c) PE Growth 
Year Ending 30-06-07 104.1 32.8 53.3% 
Year Ending 30-06-08 140.0 24.4 34.5% *

Another one similar to WOR in business is MND

*Earnings and Dividends Forecast (cents per share) 
2006 2007 2008 2009 
EPS 35.2 69.5 73.0 81.6 
DPS 33.0 62.0 63.5 71.0 

EPS(c) PE Growth 
Year Ending 30-06-07 69.5 22.3 97.2% 
Year Ending 30-06-08 73.0 21.3 5.0% *

I have a feeling it might over take WOR's price sometime next year

thx

MS


----------



## reece55 (9 July 2007)

michael_selway said:


> hehe not bad, but PE is gettignhigh, although have to wait and see if it canbeat analysts forecasts
> 
> *Earnings and Dividends Forecast (cents per share)
> 2006 2007 2008 2009
> ...




Michael...
Certainly this is more a momentum play than anything else, it is extremely expensive on a P/E valuation methodology. But the rate at which they are achieving the growth in their profits, as well as the incredibly profitable industry they operate in, is causing this one to have such a high premium...

Have a look at Haliburton in the US, they are much more reasonably priced with the same type of exposure..... love that stock....

Cheers


----------



## michael_selway (9 July 2007)

reece55 said:


> Michael...
> Certainly this is more a momentum play than anything else, it is extremely expensive on a P/E valuation methodology. But the rate at which they are achieving the growth in their profits, as well as the incredibly profitable industry they operate in, is causing this one to have such a high premium...
> 
> Have a look at Haliburton in the US, they are much more reasonably priced with the same type of exposure..... love that stock....
> ...




The rate of growth in EPS is actually decreasing 54% then 35% then 15% forecasted for teh next 3 years

Unless obvoiusly they beat forecasts (expectations) e.g. LEI



thx

MS


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## bigdog (9 July 2007)

bigdog said:


> 2017? Buy now! Here are the tips for 10 years' time
> Marcus Padley
> June 16, 2007
> 
> ...




I have been in since Feb 2006 at $14.45 and in love with WOR
-- looks like the chinese also love WOR!!!!

Repeat of my prior post #78
https://www.aussiestockforums.com/forums/showpost.php?p=176753&postcount=78


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## bigdog (9 August 2007)

The Share Cafe Newsletter

WELCOME TO SHARE CAFE | NEW? CLICK HERE TO JOIN +	
-- free to join for sharemarket newsletter
http://www.sharecafe.com.au/user_register.asp

WOR - Credit Suisse rates the stock as Upgrade to Outperform from Neutral

BROKER NEWS - 07/08/2007

The broker has upgraded its rating following recent relative underperformance by the stock, as in the past two trading weeks the shares have fallen 3.6% against a 2.7% fall in the broader market.

Target price is $40.00. Current Price is $33.26. Difference: $6.74 - (brackets indicate current price is over target). If WOR meets the Credit Suisse target it will return approximately 17% (excluding dividends, fees and charges - negative figures indicate an expected loss).


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## bigdog (27 August 2007)

Annual results issued to ASX today

WORLEYPARSONS ANNOUNCES RECORD PROFIT
*Highlights*

Full year net profit up 61.6 % to $224.8 million
Colt integration and performance are positive
Full year EBITDA growth of 60.7% to $353.4 million
Normalised EPS up 57.5% to 105.4 cents per share
International operations contribute 72.4% of earnings
EBIT and net margin expansion
Final dividend increased to 32.5 cents per share (2006: 22.5 cents per share)
Continued positive outlook for 2008

27/08/2007	 	Full Year Results Presentation	
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00752213

27/08/2007	 	Media Release Full Year Result	
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00752206

27/08/2007	Preliminary Final Report Appendix 4E 2007
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00752201


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## bigdog (27 August 2007)

The market liked todays announcements with SP up $2.20 up 6.47%

Currently WOR   	$36.20  	   	  +$2.20   	  +6.47%   	  26,681 shares 	 $956,193  	@ 27-Aug 10:11:23


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## vishalt (27 August 2007)

when worley parsons reports and goes up, it does so for many many dollars. 

im in, bears can piss off and cry about this stock being neutral all they want, lol.


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## bigdog (29 August 2007)

There are few of us the love Worley and many others too!

the All Ordinaries is currently: 6068.5  down 108.8

*WOR SP is currently up 18 cents*
 WOR   	$37.48  	   	  +$0.18   	  +0.48$  $37.49 high and low of 	 $36.01  	 123,911 shares 	 $4,549,324  	@ 29-Aug 11:13:04

WOR  52-wk High	is $37.5000


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## Dutchy3 (19 September 2007)

This is a strong performer ... clearly demonstrated again today, on heavier volume and gap its future intentions ... didn't spend much time in recent consolidating pattern either .... STRONG


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## michael_selway (20 September 2007)

bigdog said:


> There are few of us the love Worley and many others too!
> 
> the All Ordinaries is currently: 6068.5  down 108.8
> 
> ...




Its a crazy stock this one

*Earnings and Dividends Forecast (cents per share) 
2007 2008 2009 2010 
EPS 100.4 146.3 174.5 206.1 
DPS 60.5 81.0 95.7 114.0 *

thx

MS


----------



## bigdog (26 September 2007)

Look at the SP today up 87 cents
 WOR   	$41.00  	   	  +$0.87   	  +2.17%   	 high of  $41.10  	  	 306,423 shares  	 $12,398,366  @	 26-Sep 14:50:03

There are many of us that love WOR!
-- look the SP increase since Aug 16 at $29.99

Date------ Close   	Volume  
25-Sep-07	 40.13 	605,300
24-Sep-07	 39.80 	322,873
21-Sep-07	 40.05 	363,608
20-Sep-07	 40.45 	1,348,655
19-Sep-07	 40.20 	1,123,210
18-Sep-07	 38.20 	571,724
17-Sep-07	 38.50 	427,141
14-Sep-07	 38.45 	562,637
13-Sep-07	 38.00 	314,306
12-Sep-07	 37.73 	401,200
11-Sep-07	 37.69 	231,805
10-Sep-07	 37.70 	226,518
07-Sep-07	 38.10 	2,100,972
06-Sep-07	 37.90 	570,565
05-Sep-07	 37.20 	547,960
04-Sep-07	 37.84 	232,288
03-Sep-07	 37.97 	390,475
31-Aug-07	 38.60 	531,306
30-Aug-07	 38.00 	773,655
29-Aug-07	 37.20 	427,193
28-Aug-07	 37.30 	631,604
27-Aug-07	 36.78 	698,050
24-Aug-07	 34.00 	661,114
23-Aug-07	 33.70 	811,328
22-Aug-07	 33.40 	362,163
21-Aug-07	 33.03 	690,847
20-Aug-07	 31.18 	1,177,178
17-Aug-07	 28.90 	1,162,232
16-Aug-07	 29.99 	1,926,303

ASX ann today
26/09/2007	Enbridge Pipelines Contract and Polestar Acquisition
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00762966

*WorleyParsons awarded Facilities Construction Services contract for Enbridge Pipelines*
WorleyParsons announces that Cord Projects, its Canadian - based construction and fabrication subsidiary, has reached an agreement with Enbridge Pipelines Inc. for the provision of facilities construction services on new and existing facilities at various locations within Alberta, Canada.

The term of the contract will commence effective immediately and the first term expires December 31, 2009. The indicative scope of work would lead to Cord Projects services valued at approximately CAD$90M.

Cord Projects provides mechanical, piping and structural work across Western Canada. This includes direct-hire construction services, shop fabrication and modularisation, commissioning and decommissioning and construction management.

Commenting, Mr Grill said: “This agreement extends a strong working relationship between one of WorleyParsons Canada largest customers, Enbridge Pipelines, and Cord Projects.”

*WorleyParsons Acquires Polestar Applied Technology, Inc*
WorleyParsons announces today that it has entered into an agreement to purchase Polestar Applied Technology, Inc. in a move that will expand WorleyParsons’ nuclear power capability and resources. The transaction is subject to U.S. regulatory approval and is expected to close in November 2007. The acquisition is valued at approximately US$11 million, representing an average 2006 - 2007 EBIT multiple of 5.9. While not material in a financial sense, this acquisition is considered to be of strategic significance as it extends the Company’s capabilities in the nuclear industry.

Founded in 1992, with offices in the USA and the UK, Polestar provides technical planning, engineering, nuclear safety and risk analysis, and related services to commercial and government clients in the USA and abroad. Polestar’s services cover all facility life-cycle phases including management and operations support and planning, security planning and testing, decommissioning planning, spent nuclear fuel storage and handling, financial and economic analyses, and communications services.

“The acquisition of Polestar increases WorleyParsons’ capability in the nuclear consulting and analysis segment of the international nuclear industry. Polestar provides recognized technology know-how that will enhance our already considerable nuclear capability and increase our breadth of services,” said John Grill, WorleyParsons’ Chief Executive Officer.


----------



## Sultan of Swing (26 September 2007)

michael_selway said:


> Its a crazy stock this one
> 
> *Earnings and Dividends Forecast (cents per share)
> 2007 2008 2009 2010
> ...





Hi Michael.

In what way do you consider this contract crazy. I've been watching it for a while and can't work out a value. 

Cheers


----------



## bigdog (18 October 2007)

SP is up today currently: $45.91  	   	  +$1.01   	  +2.25%

$45.92 is all time high

WOR    $45.91  	   	  +$1.01   	  +2.25%   	 high of $45.92  	 	 218,762 shares  	 $9,949,552  	@ 18-Oct 13:37:2

Recent ASX ann were:
17/10/2007	Program Management Contract 
-- WorleyParsons Awarded $US 300m Program Management Contract For Kuwait Oil Company

12/10/2007	 	CEO`s Address to Shareholders	
12/10/2007	 	Chairman`s Address to Shareholders	
02/10/2007	 	Annual Review


----------



## bigdog (27 November 2007)

http://www.theaustralian.news.com.au/story/0,25197,22821519-5005200,00.html

*Worley shares soar on Saudi talks*
Andrew Harrison, Dow Jones Newswires | November 26, 2007

WORLEYPARSONS said today it is in advanced talks with Saudi Arabian Oil, the world's largest oil company by production, about building a $9 billion refinery.

The engineering company may manage the construction of a planned 400,000 barrel-a-day refinery in eastern Saudi Arabia, which will process Saudi heavy crude oil and supply the local market, people familiar with the process told Dow Jones Newswires on Sunday.

Shares in WorleyParsons (ASX: WOR: quote) were up 6.3 per cent at $45.51 by late afternoon. The stock has more than doubled in the past year, compared with a 14 per cent increase in the benchmark S&P/ASX 200 Index.

WorleyParsons, which posted 62 per cent rise in net profit to $224.8 million last year, has been growing its business through acquisitions, including the $1.13 billion acquisition of a Canadian oil sands construction services company in February, and new hydrocarbon projects overseas.

The contract to build the East Coast refinery at Ras Tanura - where Saudi Arabian Oil, or Saudi Aramco, is already operating a 550,000 barrel-a-day facility, the kingdom's largest - is expected to be tendered in 2009.

WorleyParsons, whose customers include three of the world's four biggest oil producers, said it is in advanced stages of talks with Saudi Aramco about the project.

"Until the contract is finalised and executed, the company is not in a position to advise further on its value or scope," it said in a statement. "Further details of this project will be announced in the event that the negotiations are finalised and the contract executed."

Earlier, a company spokesman declined to comment on a Dow Jones report that named WorleyParsons as a candidate for the plant in competition with New Jersey-based Foster Wheeler and Canada's SNC-Lavalin Group, which also have submitted bids.

"Saudi Aramco has been a major client for a number of years and we enjoy a good working relationship with the company," a spokesman said.

Saudi Aramco is expected to award the contract in November for the East Coast refinery, the fourth new such facility to be built in Saudi Arabia, and which will increase total refining capacity to more than 3.5 million barrels a day by 2012, more than double the UK's capacity.

Refinery technology is being tendered separately from the project management and front-end engineering design contract that will be signed with WorleyParsons.

Persian Gulf governments, flush with cash from four years of high oil prices, are investing in new crude oil refineries to meet rising demand and tighter specifications for products such as gasoline and diesel.

Some Organisation of Petroleum Exporting Countries members have partly blamed a lack of global refining capacity for ongoing high oil prices.

Aramco last year signed joint venture agreements with Total and ConocoPhillips to build two 400,000-barrel-a-day export refineries on the country's east and west coasts.


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## bigdog (29 November 2007)

ASX ANN today

The market liked the ANN
 WOR   $46.57  	   	  +$1.64   	  +3.65%   	 234,005  shares	 $10,819,961  @ 29-Nov 11:39:41 

29/11/2007	Awarded Services Contracts for Saudi Aramco
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00789080

WorleyParsons Awarded Services Contracts for Saudi Aramco’s Grassroots East Coast Refinery   

Saudi Arabian Oil Company (Saudi Aramco) has awarded contracts for services to WorleyParsons for project management, front-end engineering design (FEED) development, contract bid package development, detailed design support, detailed design package preparation, and construction management services for the Saudi Aramco East Coast Refinery Project at Ras Tanura, Saudi Arabia.  The purpose of the East Coast Refinery Project is to partially meet future Kingdom demand by producing fuel oil.  Major scope items include several grassroots units:  400-MBOD crude distillation unit, 210-MBOD vacuum distillation unit, 120-MBOD visbreaker crude unit, 50-MBOD continuous catalyst regenerator, 20-MBOD isomerization unit, 90-MBOD diesel hydrotreater, 30-MMSCFD hydrogen plant, 185-TPD (two trains) Sulfur Recovery Unit, 820-GPM amine regeneration unit, 225-GPM sour water stripper, and related utilities, controls, inter-connections with existing facilities, flares, and tankage.    

The project will begin on contract signing during the first week of December 2007 and is scheduled for completion in the first quarter of 2012.  Saudi Aramco estimates the total cost of facilities will be approximately US$8 billion.  WorleyParsons’ contracts are estimated to be valued at US$ 80 million.  

WorleyParsons International, Inc. will furnish Out-of-Kingdom services at its offices in Arcadia, California and Beijing, People’s Republic of China.  Worley Arabia will furnish In-Kingdom services at its offices in Al Khobar, Saudi Arabia and at the Ras Tanura site.   

"WorleyParsons is very pleased to be part of this important undertaking by Saudi Aramco,” said John Grill, WorleyParsons’ Chief Executive Officer.  “Our company has participated in major hydrocarbons projects in Saudi Arabia since 1956.  We will capitalise on our long history of achievement and tap our worldwide resources to deliver a project that represents all that is best in global execution."


----------



## bigdog (5 December 2007)

The Worley SP has been magnificent during the past nine days
-- up $9.15 or 21.3%

52-wk High	52.2100 hit today
52-wk Low	18.4779

Also noted that Leighton Holdings up 3.7%on a United Arab Emirates contract worth $650m. ABN AMRO warned us yesterday that the Middle East was in a construction boom and that we were underestimating the exponential growth in the region with the oil price where it is.

WOR are also picking up contracts in the middle east
29/11/2007 Awarded Services Contracts for Saudi Aramco
http://www.asx.com.au/asx/statistics...idsID=00789080
WorleyParsons Awarded Services Contracts for Saudi Aramco’s Grassroots East Coast Refinery 

Date_____  	Volume_  	 Close $SP+/- daily
05-Dec-07	863,511	 51.95 	 1.80 
04-Dec-07	927,075	 50.15 	 0.65 
03-Dec-07	496,257	 49.50 	-0.58 
30-Nov-07	1,690,190	 50.08 	 2.75 
29-Nov-07	714,370	 47.33 	 2.40 
28-Nov-07	544,939	 44.93 	 0.89 
27-Nov-07	584,779	 44.04 	-0.94 
26-Nov-07	830,636	 44.98 	 2.18 
23-Nov-07	563,156	 42.80


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## michael_selway (5 December 2007)

bigdog said:


> The Worley SP has been magnificent during the past nine days
> -- up $9.15 or 21.3%
> 
> 52-wk High	52.2100 hit today
> ...




Hm its has gone nuts, market appears to be lookign for a surprise in the next set up results etc


*EPS(c) PE Growth 
Year Ending 30-06-08 147.0 34.1 46.4% 
Year Ending 30-06-09 174.3 28.8 18.6% 

Earnings and Dividends Forecast (cents per share) 
2007 2008 2009 2010 
EPS 100.4 147.0 174.3 210.6 
DPS 60.5 79.4 94.3 117.8 *

thx

MS


----------



## michael_selway (5 December 2007)

bigdog said:


> The Worley SP has been magnificent during the past nine days
> -- up $9.15 or 21.3%
> 
> 52-wk High	52.2100 hit today
> ...




Hm its has gone nuts, market appears to be lookign for a surprise in the next set up results etc


*EPS(c) PE Growth 
Year Ending 30-06-08 147.0 34.1 46.4% 
Year Ending 30-06-09 174.3 28.8 18.6% 

Earnings and Dividends Forecast (cents per share) 
2007 2008 2009 2010 
EPS 100.4 147.0 174.3 210.6 
DPS 60.5 79.4 94.3 117.8 *

thx

MS


----------



## bigdog (4 January 2008)

Lots of new contracts for Worley announced recently!!

04/01/2008	WorleyParsons awarded Canadian oil sands contract	
03/01/2008	Award of 5 yr Services Contract for BP Kwinana Oil Refinery	
20/12/2007	Award of Key Contracts for Woodside`s Pluto LNG Project
29/11/2007	Awarded Services Contracts for Saudi Aramco


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## michael_selway (5 January 2008)

bigdog said:


> Lots of new contracts for Worley announced recently!!
> 
> 04/01/2008	WorleyParsons awarded Canadian oil sands contract
> 03/01/2008	Award of 5 yr Services Contract for BP Kwinana Oil Refinery
> ...




Hi Bigdog, have you looked at AAX before?

Its global like WOR and covers similar enginerring areas! It may overtake WOR in future! maybe even M & A?

Thanks

MS

*Earnings and Dividends Forecast (cents per share) 
2006 2007 2008 2009 
EPS 17.0 47.7 64.1 83.7 
DPS 10.0 29.0 39.0 51.0 *

*Ausenco Limited (AAX) specialises in the engineering, procurement, construction management, project management, commissioning and operation of mineral processing plants. AAX is currently undertaking global projects with an Installed Capital Value of more than US$1.9bn in more then 33 countries, covering the processing of minerals to produce gold, copper, nickel, silver, cobalt, lead, zinc, uranium and mineral sands.*


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## bigdog (9 January 2008)

ASX ANN today to help QLD just after closing today

WOR SP  $47.26  	   	  -$1.69   	  -3.45% 	 806,344 shares  	 $38,174,592 @ 	 09-Jan 16:19:55

 09-01-2008 04:17 PM  	 WOR  	  Brisbane River Desalination Plants
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00801753

* Brisbane River Desalination Plants *

Please find attached a media statement from the State Government of Queensland announcing WorleyParsons and Transfield Services as the preferred provider of two portable Brisbane River desalination facilities. 

WorleyParsons and Transfield Services will work in joint venture for the State Government of Queensland on a solution to meet South East Queensland's water requirements. 

The State Government of Queensland will reassess South East Queensland's water supply at the end of Queensland's wet season in MarchlApril and, if necessary, approve the project. 

Page 2 & 3 provides media release


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## bigdog (11 January 2008)

What is happening at WOR?

Current SP  WOR   	$43.95  	   	  -$2.19   	  -4.75%  	 552,107 shares $24,665,347  @	 11-Jan 13:27:18

Down $8.05 since Dec 31 207

52-wk High	54.1900
52-wk Low	19.7190

Date.......  	 Close   	 mvmt 	Volume  
10-Jan-08	 46.14 	-1.12 	826,669
09-Jan-08	 47.26 	-1.69 	828,541
08-Jan-08	 48.95 	 0.54 	422,789
07-Jan-08	 48.41 	-2.65 	607,053
04-Jan-08	 51.06 	 0.60 	259,437
03-Jan-08	 50.46 	-1.12 	316,738
02-Jan-08	 51.58 	-0.42 	200,216
31-Dec-07	 52.00 	 -   	163,390
28-Dec-07	 52.00 	 0.75 	151,254
27-Dec-07	 51.25 		159,897

10 day chart reviels:


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## reece55 (11 January 2008)

bigdog said:


> What is happening at WOR?
> 
> Current SP  WOR   	$43.95  	   	  -$2.19   	  -4.75%  	 552,107 shares $24,665,347  @	 11-Jan 13:27:18
> 
> ...




Big Dog
Fundamentals are catching up - this one has an incredible high valuation (PE of almost 40 at the peak) that none of it's peers have and I would guess people are cashing out. It needs to sustain almost 25% - 30% EPS growth in perpetuity to warrant the valuation and I would doubt it will be able to achieve it.

Cheers
Reece


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## michael_selway (12 January 2008)

bigdog said:


> What is happening at WOR?
> 
> Current SP  WOR   	$43.95  	   	  -$2.19   	  -4.75%  	 552,107 shares $24,665,347  @	 11-Jan 13:27:18
> 
> ...




Hi Bigdog, please look at AAX, it hasnt been going down recently!

thx

MS

*AAX - Earnings and Dividends Forecast (cents per share) 
2006 2007 2008 2009 
EPS 17.0 47.7 64.1 83.7 
DPS 10.0 29.0 39.0 51.0 *

*WOR - Earnings and Dividends Forecast (cents per share) 
2007 2008 2009 2010 
EPS 100.4 146.3 174.4 210.6 
DPS 60.5 79.4 94.3 120.0 *


----------



## bigdog (27 February 2008)

http://www.wabusinessnews.com.au/en...-forecasts-increased-earnings-after-1H-profit

The share price has been going up over the past week!
Date----	 SP__$ 	Volume
27-Feb-08	 40.94 	1,220,211
26-Feb-08	 40.00 	1,639,897
25-Feb-08	 37.85 	1,414,000
22-Feb-08	 37.05 	821,139
21-Feb-08	 36.52 	878,460
20-Feb-08	 35.00 	781,053
19-Feb-08	 36.50 	484,329
18-Feb-08	 36.19 	690,708
15-Feb-08	 35.88 	914,276


*WorleyParsons forecasts increased earnings after 1H profit*
27-February-08 by AAP

WorleyParsons, Australia's largest engineering company, has forecast higher earnings in the second half after posting a 61.6 per cent increase in half year profit.

Net profit for the six months to December 2007 was $152.7 million, up from $94.5 million in the previous corresponding period.

"Subject to conditions remaining favourable, we expect to achieve increased earnings in the second half of 2008," chief executive John Grill said in a statement today.

The company delivered a 76.7 per cent increase in earnings before interest and tax (EBIT) to $231.7 million, compared to $131.1 million in the six months to December 2006.

Revenue rose 55.7 per cent to $2.262 billion, up from $1.453 billion in the previous corresponding half.

"It is pleasing to deliver yet another strong result reflecting the continued positive trading conditions the group has enjoyed over the last few years," Mr Grill said.

"Our key markets and sectors continue to experience positive conditions and we are well positioned to respond to these opportunities."

ABN AMRO Morgans private client adviser Craig Walker said the result was in line with "pretty lofty" expectations.

"But they managed to meet it, which is good to see," Mr Walker said.

WorleyParsons said the outlook for its hydrocarbon division, which has contracts with oil giants Woodside Petroleum Ltd, Chevron and ExxonMobil, remained positive for 2008.

"Our global hydrocarbons business is now a highly credible, world-class business and we continue to see positive conditions remaining in this sector," Mr Grill said.

"However, we remain cognisant of the significant pressures participants in the industry continue to experience due to resource and capacity constraints."

"We are delighted from the strong contribution from our Canadian operations, which has exceeded our expectations during the period."

WorleyParsons acquired Canadian design and project services business Colt Companies, which has significant upstream and downstream hydrocarbons capabilities, for $1.13 billion 12 months ago.

The Perth-headquartered engineering company forecast a positive outlook for its minerals and metals division thanks to strong demand for these commodities, driven by the industrialisation of China and India.

The company noted that a strong pipeline of future mining projects could be affected by financing constraints and access to capital amid global market turmoil.

WorleyParsons forecast strong demand on its power and infrastructure divisions, with significant growth opportunities for infrastructure services in the Middle East, Africa, and some parts of Asia and eastern Europe.

It said the performance of this division exceeded expectations, reflecting continued organic growth including solid performance on two world scale resource projects including Fortescue Metals Group Ltd's $3.7 billion Pilbara iron ore project, which is scheduled to start exporting iron ore by mid-May.

The engineering firm spent $72.7 million on acquisitions during the half, including Sydney-based consulting engineers and scientists Patterson Britton and Partners Pty Ltd, and US power group Polestar Applied Technology Inc.

Mr Grill said the company continued its strategy of extending its capability and geographic coverage with acquisitions, and was evaluating opportunities.

WorleyParsons declared an interim dividend of 38 cents, up from 28 cents for the previous corresponding period.

Its shares were 72 cents, or 1.8 per cent, higher at $40.72 at 1310 AEDT.


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## chops_a_must (12 March 2008)

If anyone is from Perth, and interested in this company, you may be interested in this.

Paul Hardisty is providing a free lecture, _open to anyone interested_with questions allowed from the audience, tomorrow 12/3 at 11.30 am.

Topics include: "sustainability" within the industry, environmental technology, liquid and alternate fuels and associated engineering, life cycle economics and the future of the petro industry.

- Don't hold me to that, it's what I've heard/ assumed.

_Paul E Hardisty is Global Director, Sustainability, for WorleyParsons, helping clients worldwide deliver more environmentally, socially and economically sustainable projects. He is a Visiting Professor of Environmental Strategy at Imperial College, London, UK, Adjunct Professor of Environmental Engineering at the University of Western Australia, and has worked in the Middle East for the last 15 years._

He's a brave man where he's going. Especially with certain people in the crowd. 

But if anyone is interested, give me a PM and I'll give you directions etc.

Otherwise I'll endeavour to write up a lot of the points and issues raised.

Cheers.


----------



## bigdog (27 March 2008)

What is happening with WOR Worley Parsons today?

*Today SP is up  +$3.03  +9.90 at 27-Mar 12:42:39 *

WOR   $33.65    +$3.03  +9.90  high of $33.80 low of $30.72  901,769 shares $29,516,078  27-Mar 12:42:39 

Date_____	 Close 	Volume

26-Mar-08	 30.62 	1,073,333
25-Mar-08	 31.00 	1,991,928
20-Mar-08	 30.12 	2,754,287
19-Mar-08	 31.86 	2,579,784
18-Mar-08	 31.80 	1,491,567
17-Mar-08	 32.56 	720,365
14-Mar-08	 32.42 	825,355
13-Mar-08	 32.98 	844,700


----------



## nitpra (27 March 2008)

may be due to  re-rating : UBS rates WOR as Buy - The company has won a design contract for a refinery in Romania valued at around $40m, though the broker had already included such contract wins in its forecasts and so makes no changes to its estimates. 
Overall it sees the company as continuing to perform well so the broker retains its Buy rating. 


Target price is $52.00 Current Price is $30.62 Difference:$21.38 - (brackets indicate current price is over target). If WOR meets the UBS target it will return approximately 70% (excluding dividends, fees and charges - negative figures indicate an expected loss).


----------



## Uttsy (11 June 2008)

Morning all,

No talk on this stock for a while? Just wondering if there are any ideas on its sudden head south?

Uttsy


----------



## dan-o (1 July 2008)

anyone think its worth getting in on worley now? they seem set to benefit from all the infrastructure contracts etc coming up...

thoughts?


----------



## CapnBirdseye (28 July 2008)

WOR is a very good bet.  Big balance sheet, massively expanding, and exposed to the gains of the commodities market without the exposure to volatility in prices.

For some reason the market is very hard on Worleys, this is a good thing.  Wait for the climb the week or 2 before FY08 results.  I know I am.  I'd say given the current sentiment, we might be looking at $40.  I hope so anyhow.


----------



## michael_selway (28 July 2008)

CapnBirdseye said:


> WOR is a very good bet.  Big balance sheet, massively expanding, and exposed to the gains of the commodities market without the exposure to volatility in prices.
> 
> For some reason the market is very hard on Worleys, this is a good thing.  Wait for the climb the week or 2 before FY08 results.  I know I am.  I'd say given the current sentiment, we might be looking at $40.  I hope so anyhow.





Hi thing is WOR is currently quite expensive, i mean there a lot of stocks right now with PE's less than 10 etc

*Earnings and Dividends Forecast (cents per share) 
2007 2008 2009 2010 
EPS 100.4 144.9 178.7 212.1 
DPS 60.5 84.0 103.5 124.5 

EPS(c) PE Growth 
Year Ending 30-06-08 144.9 22.2 44.3% 
Year Ending 30-06-09 178.7 18.0 23.3%* 

thx

MS


----------



## GREENS (7 August 2008)

Any thoughts on the Worley chart? Positive, negative or neutral? 

Seems to have formed a pretty classical triple bottom, but in both a rectangle and descending triangle formation. My charting is pretty average, so would be interested on people’s thoughts. 

From my point of view initial resistance looks around $26 with major resistance @ $33.30, with key support around the $29.50 mark. 

If it wasn’t in a descending triangle pattern, I would feel a little more bullish about it.


----------



## GREENS (7 August 2008)

GREENS said:


> Any thoughts on the Worley chart? Positive, negative or neutral?
> 
> Seems to have formed a pretty classical triple bottom, but in both a rectangle and descending triangle formation. My charting is pretty average, so would be interested on people’s thoughts.
> 
> ...





My apologies, wrote it very quickly, that should read: 

*Initial resistance looks around $36 with major resistance @ $43.30, with key support around the $29.50 mark.*
Any thoughts....


----------



## bigdog (13 August 2008)

Great result announced yesterday

http://www.news.com.au/heraldsun/story/0,21985,24170918-664,00.html

*WorleyParsons reports 53% rise in profits*
Tony Grant-Taylor
August 13, 2008 12:00am

ENGINEERING company WorlyParsons reaped the rewards of the resources and infrastructure boom in the 2007-08 fiscal year and is tipping further growth.

Worley yesterday reported a 53 per cent rise in profit to $343.9 million for the 12 months and the group's shares shot up $1.23, or 3.7 per cent, at $34.68.

Worley, which for years has been on the international expansion trail, reported a profit of $224.8 million in 2006-07.

Chief executive John Grill said the group was expecting good growth to continue, despite fears in some quarters of a slowdown in the wake of the subprime mortgage crisis.

"We expect the markets for WorleyParsons' services will remain strong. Our key markets and sectors continue to experience positive conditions, and we are well positioned to respond to these opportunities," Mr Grill said.

Worley's aggregated revenue for the year was $4.9 billion, up 38.6 per cent. Directors declared a final dividend of 47.5, up from 32.5, payable on October 10 for shareholders on the books by September 12.

Worley's oil and gas business was solid during the year, after its purchase of INTEC Engineering, a consultancy specialising in deepwater sub-sea engineering and offshore pipelines. Its power business also saw increased demand, particularly from the renewable energy sector.

The company yesterday also launched a proposal to build a 250 megawatt thermal solar power station, most likely in the Pilbara.


----------



## Aussiest (16 August 2008)

I would have thought initial support was around $29.50, with resistance at $34.00, which it appears to have been broken. The candles don't look that bullish, so it seems the market doesn't know what to do. I am no expert, but if it doesn't break through $34.50 within the next few sessions, it might trend back to that $29.50-32 support for a while, before bouncing up. 


Thoughts?


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## bigdog (5 September 2008)

What a tumble in price this week has seen from high of $38 to currently $32.78 at 11:53 today

Date----  	Open-  	High---  	Low--  	Close  	Volume
4-Sep-08	 35.60 	 35.85 	 33.75 	 34.71 	890,385
3-Sep-08	 36.50 	 37.10 	 35.50 	 35.90 	771,997
2-Sep-08	 37.85 	 38.01 	 37.17 	 37.40 	423,046
1-Sep-08	 37.00 	 37.64 	 36.66 	 37.48 	315,565
29-Aug-08	 38.00 	 38.00 	 36.42 	 37.06 	632,691


----------



## bigdog (17 October 2008)

Are there any reasons for the WOR to continue to drop in excess of overall market drop?

Latest price today is $18.1000 at midday

WOR reported a director selling at about $31 late Sept

Date  	High  	Close  	Volume  
16-Oct-08	 20.20 	 19.70 	1,309,316
15-Oct-08	 23.00 	 22.50 	2,859,079
14-Oct-08	 26.00 	 24.10 	1,168,612
13-Oct-08	 22.62 	 22.45 	1,191,480
10-Oct-08	 22.98 	 21.52 	1,578,310
09-Oct-08	 24.15 	 24.00 	1,740,895
08-Oct-08	 26.00 	 24.47 	863,980
07-Oct-08	 26.30 	 26.01 	3,266,737
06-Oct-08	 28.19 	 25.90 	930,728
03-Oct-08	 29.85 	 28.76 	695,310
02-Oct-08	 31.50 	 30.30 	434,765
01-Oct-08	 31.83 	 31.20 	1,049,794
30-Sep-08	 31.50 	 30.30 	1,247,327
29-Sep-08	 34.85 	 33.55 	802,495
26-Sep-08	 34.85 	 34.60 	455,693


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## michael_selway (18 October 2008)

bigdog said:


> Are there any reasons for the WOR to continue to drop in excess of overall market drop?
> 
> Latest price today is $18.1000 at midday
> 
> ...




Hm so are yo bullish on WOR?



> Date: 7/10/2008
> Author: Michael Smith
> Source: The Australian Financial Review --- Page: 20
> Australian engineering firm, WorleyParsons, seems set to ride out the troublesin the global economy. CEO John Grill said on 6 October 2008 that earningsremain strong and that the global strife is providing acquisition targets. Thecompany's share price has dropped 20% since early September 2008, whichGrill describes as a correction. The company spent over $A1.3 billion on nineacquisitions in 2007




*Earnings and Dividends Forecast (cents per share) 
2008 2009 2010 2011 
EPS 140.8 179.5 213.2 235.0 
DPS 85.5 102.7 124.0 139.5 *






thx

MS


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## all$andnocents (31 October 2008)

still on the way down? bottomed under $13 - ouchie mama.

any theories on the SP crash in the face of positive news??


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## Miner (31 October 2008)

all$andnocents said:


> still on the way down? bottomed under $13 - ouchie mama.
> 
> any theories on the SP crash in the face of positive news??




My guess is that WOR survives on low margin high volume labour supply (High quality of course as they supply engineers, managers. designers etc). They supply those personnel always on client premises which means no overhead on WOR and just cash profit on operation. 

Now their lose of manpower from MOL, FMG and few others mean those cash cows stopped giving milk

WIth low margin unless the volume remains significant profit aspect is low

So obvious victim is share price

Disclosure : Do not hold WOR


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## treefrog (31 October 2008)

Miner said:


> My guess is that WOR survives on low margin high volume labour supply (High quality of course as they supply engineers, managers. designers etc). They supply those personnel always on client premises which means no overhead on WOR and just cash profit on operation.
> 
> Now their lose of manpower from MOL, FMG and few others mean those cash cows stopped giving milk
> 
> ...




almost :topic but I think I might get away with it.
BHill is home base for a drilling Co called "silver city drillers" - a private co as far as I know and yesterday proprietor was on local ABC talking about the downturn,
last year they had 18 drill rigs flat out and bought a couple of 6 seaters to fly personnel in/out spending $10m on new gear.
currently half their rigs are 'parked up' in the local yard and not one of the working rigs is working in NSW or SA
they have decided to turn their focus to specialist drilling where they believe the work will come from for some time.
He does not believe other (routine) work will pick up for at least 18 months.
They already have one or two CSM rigs in the field and they have manager in US buying a hot rock specialty rig (down to 6000m) - best of their others are down to 2000m only
so that is where they believe the work will be csm and hot rock
and that may give some indication of the downturn as it affects mining support co's


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## Sean K (15 March 2009)

Was that a bottom down there?

Pretty good base. Making higher highs and lows. Broken some strong resistance.....

DOW is a little similar, but not broken horizontal resistance yet.
LEI may be bottoming, for now.


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## bigdog (20 March 2009)

*Encouraging news: "it has also been actively recruiting for other areas of the business."*

Currently today $18.07 up 27 cents @ 10:36 AM
The SP has been very good during the past month up $4.49 since Feb 19

Date.......  	Close  	Volume  
19-Mar-09	17.80	2,381,992
13-Mar-09	17.40	1,737,051
12-Mar-09	15.85	615,680
11-Mar-09	16.59	1,027,083
10-Mar-09	15.70	1,209,614
26-Feb-09	15.09	1,978,646
25-Feb-09	14.68	1,835,982
19-Feb-09	13.58	1,879,175

52-wk High	42.4800
52-wk Low	10.6200

http://www.constructionindustrynews.net/storyview.asp?storyid=1024975&sectionsource=s0

*Worley cuts Australian staff, but payroll increases overall*
Alex Forrest
Wednesday, 18 March 2009

RESOURCES-focused engineering services major WorleyParsons has cut some 30 staff from its Australian operations, CIN understands.

A source close to the company said the lay-offs occurred on Monday this week, and follows previous staff reductions prior to Christmas.

However, a spokesman for the company’s Australian operations told CIN that it has also been actively recruiting for other areas of the business.

He said that while the company does not comment on staffing developments in specific locations, he could confirm there have been reductions in Australia and Canada.

“But in other areas of the world, they are actually increasing personnel numbers, which reflects the differing economic environments in the [various] parts of the world in which they operate,” he told CIN.

“In terms of overall numbers, they do publish an overall headcount number.

“On February 25 this year, when they announced their full-year results, the worldwide personnel number was 31,700.”

The spokesman said that in the headcount prior to that, which was published in August 2008, the number was 31,400.

“So it’s actually gone up by 300,” he said.

“Overall, as an organisation they have increased [staff numbers], however some regions have suffered job losses as clients have deferred their projects.”


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## gfresh (7 May 2009)

Up like a rocket today  Looks to have definitively broken the $20 resistance mark now.

Their presentation definitely has had some positive words on their recently signed contracts.


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## bigdog (8 May 2009)

*gfresh:  The WOR SP continued to "rocket" today also!!*

WOR   	$23.15  	  +$1.630   	  7.57%   	  	1,702,604 shares  	$38,062,655 @  	08-May 04:26:09 PM

Date-----  	Close  	%Inc	Volume  
8-May-09	23.15	7.57%	1,702,604
7-May-09	21.52	7.71%	2,367,439
6-May-09	19.98	-2.30%	1,178,751
5-May-09	20.45	2.82%	1,909,755
4-May-09	19.89	7.40%	1,085,184
1-May-09	18.52	1.37%	766,408
30-Apr-09	18.27	1.78%	1,311,711
29-Apr-09	17.95	-2.71%	745,135
28-Apr-09	18.45	-1.28%	961,765
27-Apr-09	18.69	-1.42%	839,454
24-Apr-09	18.96	-1.46%	704,180
23-Apr-09	19.24	4.74%	738,562
22-Apr-09	18.37	0.00% 	1,075,105


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## Boggo (8 May 2009)

Another view perhaps...
This an an automatic pattern analysis with associated W.3 targets.

(click to expand)


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## ROE (10 May 2009)

This is the one that got away for me...It was on my list of wonderful company at fair price, it was trading and hovering around $12-$14 bucks between Jan-Feb

I put in an order for $10.50 thinking Mr Market was depress enough to hand me my bargain price I was wrong and it got away 

At this price, still look good but no longer provide me the margin of safety 
so good luck to all and hope you enjoy the ride....

Time to look for the next wonderful company selling at fair price.


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## imajica (20 May 2009)

from the business spectator

http://www.businessspectator.com.au...s-Saudi-project-flourishes-RD6WJ?OpenDocument

Mining services company WorleyParsons Ltd says its revenue from a Saudi Arabian phosphate project has almost doubled because the development of the mine and associated facilities will take longer than expected. 

The company's contract revenue for Saudi Arabian miner Ma'aden's phosphate project would rise to $US117 million ($A166.03 million) from $US67 million ($A95.08 million), the Sydney-based WorleyParsons said in a statement on Thursday. 

WorleyParsons gets half of the contract revenue through its 50 per cent stake in the contractor WorleyParson Arabia. 

Ma'aden increased the total contract revenue to $US234 million ($A332.06 million) from $US133 million ($A188.73 million).


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## Julia (20 May 2009)

Imajica, I thought I must have missed that in Business Spectator, but it's actually a month old announcement.  SP responded well at the time, but could do with a bit more good news now.


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## bigdog (23 May 2009)

http://www.marketwire.com/press-release/Industrial-Info-Resources-993774.html

May 22, 2009 05:00 ET

*WorleyParsons Wins Contract to Build Armenian Nuclear Plant*

Industrial Info ResourcesBANGALORE, INDIA--(Marketwire - May 22, 2009) - Researched by Industrial Info Resources (Sugar Land, Texas) -- WorleyParsons Limited (ASX:WOR) (North Sydney, Australia), one of the world's largest consulting and engineering design firms providing services to the power, hydrocarbons, minerals and metals, and infrastructure and environment sectors, recently secured a contract from the Armenian government to build a new nuclear power plant in Metsamor, Armenia. The project is part of a plan to replace the existing Soviet-era nuclear facility, which generates about 40% of the total power produced in the country. The government plans to put the new plant in operation by 2016 before decommissioning the old plant in 2017. The new plant is estimated to have a capacity of 1,000-1,200 megawatts.


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## imajica (23 May 2009)

This is a huge contract for Worley parsons and just goes to show how much confidence the world has in our Aussie engineering firm. Glad to be a holder!


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## Wheep0 (23 May 2009)

Hearing through my Oil and gas grapevine it is going to be WP`s biggest project to date.
Along with the multitide of FSU and middle east projects going on, WP rapidly building up its global position in the top 5 global Energy Engineering companies..
Diversification is becoming Worleys hallmark..
This stock is only going one way...
wheep0


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## imajica (25 May 2009)

Nice solid rise today considering overall  negative day on the market - confirmation of the armenia nuclear plant deal in an official Worley announcement will spark massive interest.


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## bigdog (27 May 2009)

SHARE CAFE COMMENTARY
http://www.sharecafe.com.au/fnarena_news.asp?a=AV&ai=12997

WOR - RBS Australia rates the stock as Hold
BY BROKER NEWS - 26/05/2009

The broker suspended coverage of WorleyParsons after the previous full-year result in August and has now resumed. The broker returns with a Hold rating (previously Buy) and a target of $21.67 (previously $37.80) but given the time away we won't consider this a "downgrade" per se.

The market is treating WOR as if it were fully leveraged to the oil price, the broker notes, but this is to ignore a track record of accretive acquisitions. The challenge now is for WOR to manage its way through the downswing and avoid too much margin compression, the broker suggests. Sector: Energy.

Target price is $21.67.Current Price is $21.57. Difference: $0.10 - (brackets indicate current price is over target). If WOR meets the RBS Australia target it will return approximately 0% (excluding dividends, fees and charges - negative figures indicate an expected loss).


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## bigdog (27 May 2009)

*SP today close $22.75 up $1.15 or 5.32%*

STOCKRADAR reports today:
http://www.egoli.com.au/news/post/Stockradar-WorleyParsons-(WOR).aspx

by Stockradar 27 May 2009 08:25 

 Stockradar: WorleyParsons (WOR)

Wonderful Worley Parsons lights the spark that leads a buying spree making a clear and powerful statement about a sudden switch to a demand dominated share price. Where to from here and why?

From a low of $11.00 WOR quickly passed though our reversal level and on to $24.00 shortly thereafter. The WOR share price has put in a brilliant recovery in this climate and put in the perspective of a down trend that fell off a ledge up at $54.00 there could easily be more catch up ground to be made yet. Until we reach $30.00 there appears little resistance to stop the price and that will be delivering the roughly 50% bounce which appears to be the natural level for a fall in just about anything to correct. Drop the tennis ball and see how much it corrects (bounces) and there are many more natural events that occur this way. Ask me why and I have no idea apart from it being a law of nature and the stock market is driven by natural beings and their own idiosyncrasies. 

As always we are responders and learners as opposed to the many predictors and forecasters that tout themselves as market wizards. The angle of trend is a natural phenomenon according to a very successful and smart trader in WD Gann and then even when we move to astrology we can find answers to some of the intangible questions but as to the ultimate and final piece of the jigsaw, that eludes us all, and that is why the stock market is such an attraction, you’ll never quite understand it completely! So with a big bag of humility on board we can still set about making some money knowing full we will never totally understand it, never beat it all the time, we will take losses as well as profits, and we never know what is going to happen next. It challenges us all in the most unusual way. 

Most pursuits as diverse as tennis or chess have rules and in fact to live in a community of people we have to have rules to abide by however trading on the stock market attracts us because there are no rules we are free to trade how, when, and as we like, waste as much money as we like, or maybe make some. Ah no rules in our sometimes overly prescriptive society! Quite refreshing really but the paradox of trading is that you actually need (self imposed) rules to survive or make money, which is what we all ultimately set out to do, and the self imposed rules we need to follow are the hardest as we only have ourselves to answer to. So the lovely 50% bounces, trend angles, or even Mars’s relationship with Sun can be pointed to as “possible why’s” but when it comes to trading we deal with tangible realities of demand and supply and those realities must be simple and readily accessible so as to provide enough (repetitive) information (market edges) for us to act on confidently and to consistently make money from. 

There are in fact many ways to make money on the stock market but that “making money” word is a fluid one that can kill a good trader if the wrong expectations are placed on what you can achieve. I am not a long term theme modeller but a nuts and bolts trader. I like the clarity, focus, credibility, repetitiveness, simplicity, and the methodical nature of building a trade plan built on assessing the demand supply pendulum which is constantly in motion with changes in price. Even that, as simple as it sounds, is a challenge at times.  When I look at the WOR chart all I see is a down trend followed by a well supported accumulative pattern that in true repetitive form unfolds into an uptrend and one that we can make money from – and that’s the name of our game. A hard-nosed assessment of demand supply in possibly its crudest form is how we generate our profits. Keep your message clear and simple (less room for error) and I have no doubt there is a big place for Gann and the astrologers- just not here.  

Should we be surprised by WOR’s performance? I don’t think so as it follows the repetitive cycle of (up) trend, distribution, (down) trend, accumulation and back to an up trending phase again. The bubbling demand profile shows up nicely with the huge volumes flowing through the register between the $11.00 to $15.00 accumulative trading range which when let loose above the “trigger” at $15.00 was free to zoom higher and start stalking the big selling domain and resistance at $30.00. That’s simple and effective “nuts and bolts” analysis and rather than set dubious targets our exit strategy is purely governed by money management rules guided by a stop loss that trundles a certain distance behind the price to extract our chunk of trend and our piece of the profits.   

E-mail this story 888


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## maungatapu (27 May 2009)

bigdog said:


> http://www.marketwire.com/press-release/Industrial-Info-Resources-993774.html
> 
> May 22, 2009 05:00 ET
> 
> ...




Construction of Armenian NPP’S New Power Generating Unit May Cost $4 Bln, Energy Minister Says

YEREVAN, September 16. /ARKA/. Construction of the new power-generating unit of Armenia’s nuclear power packaget (NPP) may cost some $4bln, said RA Minister of Energy and Natural Resources Armen Movsisyan.

To attract foreign investments necessary to construct a 1000 MW power-generating unit, Armenian government has announced a monopoly for both units of NPP.

“Taking into account the record-high prices for ingots and equipment, the project may cost $4bln, not $2bln as we packagened before,” the minister said.

The operating unit of Armenia’s NPP will be closed down only after the new one is built, according to Movsisyan.

The power-generating unit will be built in the territory of Metsamor NPP. “This will help save money,” the minister added.

“IAEA (International Atomic Energy Agency), which is one of the main investors of the project, approves of the government’s approach to the construction program,” the minister was quoted saying.

The coordinating board responsible for the power unit’s construction met last Thursday in Yerevan to discuss technical assistance to the program.

The only operating unit with a Russian nuclear reactor generates about 50% of Armenia’s electric power.

In the coming five years, the Armenia NPP will be under the trust management of the INTER RAO UES CJSC. According to specialists, the Armenian NPP in Metsamor can operate until 2016. –0--
16/09/2008 16:0
Note the date of the report Sept 2008. Still it gives some idea of cost and time of the project


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## sdmartin10 (27 May 2009)

Why hasn't this new contract been announced to the asx ? Unless I'm missing something there seems to have been nothing official yet.


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## bigdog (27 May 2009)

sdmartin10 said:


> Why hasn't this new contract been announced to the asx ? Unless I'm missing something there seems to have been nothing official yet.




I did read the article below.

sdmartin10 - yes you are right - there has been no ASX ANN!

Latest ASX ANN:
07/05/2009 11:08  asx    TSE: Transfield Worley Trags extension of RasGas Contract 
05/05/2009 12:23  asx    Appendix 3B 
29/04/2009 15:34  asx    Appendix 3B 
27/04/2009 16:00  asx    Appendix 3B


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## maungatapu (28 May 2009)

Egypt seeks Australian help with nuclear power plant

    * Font Size: Decrease Increase
    * Print Page: Print

Teresa Ooi | May 05, 2009
Article from:  The Australian

ENGINEERING services group WorleyParsons is understood to have been approached by Egypt to be the lead consultant for the building of the country's first nuclear power plant.

Reports out of Egypt said negotiat*ions with tender winner, the US-based Bechtel Power, had fallen over and WorleyParsons engaged.

WP declined to comment, with a spokesman saying the company never made any comment on media speculation.

Shares in WP soared more than 7 per cent or $1.37 to close at $19.89 after news of Egypt's approach to WP broke overseas.

If negotiations with WP are successful, the company would choose the technology and the site for the nuclear reactor.

WP would also be responsible for the quality control of the project, train staff to operate the power plant and provide other technical services, the Middle East News Agency in Egypt said on Sunday.

WP was the under-bidder in a tender process to be a consultant on Egypt's plans to build its first nuclear power plant.

The tender was conducted by Egypt's Ministry of Electricity and Energy.

A ministry official told MENA an approach had been made to WP for a 10-year consultancy worth $US180 million ($242 million). MENA did not explain why negotiations between the ministry and the tender winner, Bechtel Power failed. 

Anyone know what became of this project? The Armenian neuclear project could be speculation as well. If it was going to happen WP would have informed the ASX by now.


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## sdmartin10 (28 May 2009)

I can't see how both of these contracts could be completed simultaneously. You simply can't expand that quickly in one specialist area. Given there are no announcements I can only conclude that no contracts have been signed.


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## bigdog (5 June 2009)

http://www.istockanalyst.com/article/viewiStockNews/articleid/3257052

WOR - WorleyParsons JV Contract With Esso Highlands in PNG 1/1Wednesday, June 03, 2009 9:51 PM

WorleyParsons JV contract with Esso Highlands in PNG 

Sydney - Thursday - June 4: (RWE Aust Business News) - WorleyParsons (ASX:WOR) joint venture with Kellog Brown & Root, Eos JV, has been awarded a project services contract by Esso Highlands for the Papua New Guinea liquid natural gas project (PNG LNG). 

The agreement extends to the end of 2014. 

The agreement facilitates requests from Esso Highlands to provide engineering, training, in-country support services and integrated project team services for construction and project management. 

It maintains Eos' engagement in the upstream component of the proposed PNG LNG development following the completion of Eos' current FEED services contract. 

Services will be provided from Brisbane, Australia and a number of sites in Papua New Guinea. 


04/06/2009   WorleyParsons announces PNG LNG project services contract   
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00958378

204


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## bigdog (9 June 2009)

http://www.sharecafe.com.au/fnarena_news.asp?a=AV&ai=13163

*WOR - Deutsche Bank rates the stock as Buy*
BY BROKER NEWS - 09/06/2009

The broker notes WorleyParsons has outperformed the index by 60% in 2009. This demonstrates growing confidence in oil & gas sector capex irrespective of the lower oil price, the broker suggests. Despite the jump, WOR is still 40% below its historical PE.

On that basis, and M&A potential, the broker still sees upside. Buy retained. Target rises from $20.65 to $24.70. Sector: Energy.Target price is $24.70.Current Price is $22.80. Difference: $1.90 - (brackets indicate current price is over target). If WOR meets the Deutsche Bank target it will return approximately 8% (excluding dividends, fees and charges - negative figures indicate an expected loss).
352


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## bigdog (22 June 2009)

WOR SP up 71 cents today to $24.84 at 2:30 PM after two new contracts  announced.

52 Week High 39.5200 
52 Week Low 10.6200 

22/06/2009   Award of PMC contracts for Integrated Gas Development 
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00962474

19/06/2009   WorleyParsons awarded two nuclear power plant contracts    
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00961958

659


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## maungatapu (25 June 2009)

sdmartin10 said:


> I can't see how both of these contracts could be completed simultaneously. You simply can't expand that quickly in one specialist area. Given there are no announcements I can only conclude that no contracts have been signed.




A little over 3 weeks later WOR comes out with announcements re contracts for Armenian and Egyptian projects. Good news but late in coming.


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## DVEOUS (10 July 2009)

Another contract, announced today, yet the SP has been trending down in the last few weeks.

"Oakajee Port and Rail (OPR) is pleased to announce the appointment of WorleyParsons to fulfil the role of Project Management Study Contractor (PMSC) for the new Oakajee bulk commodity supply chain in Western Australia’s mid-west."

Does anyone have any thoughts on why this stock isn't going up?
Rather, SP has eased back $5 in the last month.

Is there something inherently bad with companies that service mining companies at the moment.


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## bigdog (11 August 2009)

WOR SP $26.00 up 55 cents or 2.16% @ 15:13 today

11/08/2009   5 year contract renewal award in Canada  
http://www.asx.com.au/asxpdf/20090811/pdf/31k12gw2x2zs29.pdf

http://www.news.com.au/perthnow/story/0,21498,25913204-951,00.html?from=public_rss

*Worley subsidiary extends Canada contract*
August 11, 2009 08:36am

WORLEYPARSONS says its Canadian subsidiary's contract for Syncrude CoSyn and Imperial Oil upstream alliances has been extended for at least five years.

Worley says the business relationships with them began in 1991 to provide a full range of engineering services to brownfield projects at the Syncrude and Imperial Oil upstream facilities. 

WorleyParsons Canada Services Ltd was awarded a five-year contract renewal with a five year extension option, the company said in a statement on Tuesday. 

"Around 720 WorleyParsons personnel are deployed on the alliance project teams in Alberta with expected annual revenues of approximately $C100 million ($A109.9 million)," WorleyPasons said. 

WorleyParsons provides services to the oil and gas, minerals and metals, power and infrastructure sectors.


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## bigdog (24 August 2009)

The market did not like today's ANN
WOR  26.11 -0.730  -2.72%  high of 26.47 and low of 25.21 387,183 shares $9,960,177 @ 24-Aug 10:19:45 AM 

24-08-2009 09:33 AM  *WOR  Media Release - Full Year Results  *
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00980123

*WorleyParsons announces record profit*

Highlights
 Net profit after tax up 13.6% to $390.5 million
 Revenue growth of 27.0% to $6,225.1 million
 EBITDA growth of 18.1% to $693.2 million
 Operating cash flow up 174.8% to $546.4 million
 Final dividend increased to 55 cents per share, fully franked
 Strong performance in mega-projects and long-term contracts
 Strengthened balance sheet achieved with no equity dilution
 Significant financial capacity to pursue further growth opportunities

Professional services company WorleyParsons Limited (the company) today announced a net profit after tax for the 12 months to 30 June 2009 of $390.5 million, an increase of 13.6% on the $343.9 million net profit reported for the same period to 30 June 2008.

The result was earned on aggregated revenue of $6,225.1 million, an increase of 27.0% on the $4,900.7 million reported in the previous corresponding period.

EBITDA for the period was $693.2 million, an increase of 18.1% on the prior corresponding period. The EBITDA margin for the group was 11.1%.

Basic earnings per share (EPS) were 161.1 cents, an increase of 13.0% from the 142.5 cents per share reported in 2008.

The result was underpinned by a strengthened balance sheet, with operating cash flow of $546.4 million (2008: $198.8 million), gearing of 25.5% (2008: 31.4%), a 0.7% reduction in average cost of debt to 5.5% and increased total available debt facilities of $1,376.1 million.

The profit performance achieved in the year and underlying quality of assets utilized in the business have resulted in an increase in return on equity, that is, net profit after tax to shareholders funds, to 25.4% (2008: 24.6%).

The company’s strong financial performance has been achieved without the need to raise additional equity during the year. WorleyParsons continues to be well-positioned to pursue further growth opportunities.

Dividend declaration
The Directors have declared a final dividend of 55 cents per share; fully franked (2008: 47.5 cents per share, franked at 71.0%). Combined with the half year dividend, the company will make total dividend payments of 93 cents per share for the year. (2008: 85.5 cents per share) The dividend will be paid on 28 September 2009 for shareholders on the register as at midnight (Australian Eastern Standard Time) on 3 September 2009.


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## bigdog (24 August 2009)

*Reason for drop in SP!!!*
SP now $25.86 down down 98 cents at 10:24

http://business.smh.com.au/business/worleyparsons-profit-up-predicts-a-drop-20090824-evmt.html

*WorleyParson's profit up, predicts a drop*

August 24, 2009 - 9:52AM 
Australian Engineering services group WorleyParsons reported a 13.6 per cent rise in full-year profit, as it won a series of contracts to work on oil, gas and power projects.

It warned it was unlikely to repeat the performance in fiscal 2010, saying it expected a modest fall in earnings.

Net profit rose to $390.5 million for the year to June from $343.9 million a year earlier, below analysts' forecasts of around $417 million, according to estimates tracker IBES.

For the year ahead, analysts on average were expecting its profit to fall about 3 per cent before the result was released, forecasting its margins would come under pressure.

WorleyParsons shares have doubled in value so far this year, more than five times the gain in the broader market. Merrill Lynch said last week the stock was looking expensive relative to its peers.


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## Julia (24 August 2009)

Thanks for posting those details big dog.  I wasn't able to access the link from E-trade to the results.    

Do you hold WOR?


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## bigdog (24 August 2009)

Julia said:


> Thanks for posting those details big dog.  I wasn't able to access the link from E-trade to the results.
> 
> Do you hold WOR?




Yes I have held Worley Parsons since early 2006 and have watched them rise and fall.  I also topped up with the last SPP.


----------



## michael_selway (24 August 2009)

bigdog said:


> Yes I have held Worley Parsons since early 2006 and have watched them rise and fall.  I also topped up with the last SPP.




It was geting a little expensive I think


*Earnings and Dividends Forecast (cents per share) 
2008 2009 2010 2011 
EPS 140.8 170.5 168.1 180.2 
DPS 85.5 85.5 89.0 92.0 *






thx

MS


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## bigdog (28 October 2009)

bigdog said:


> *Reason for drop in SP!!!*
> SP now $25.86 down down 98 cents at 10:24
> 
> http://business.smh.com.au/business/worleyparsons-profit-up-predicts-a-drop-20090824-evmt.html
> ...




*October 27 Worley closed down $2.32 at $26.68 after ASX ANN Oct 27*

*SP has recovered 59 cents today at 10:26!!*

http://au.news.yahoo.com/thewest/bu...615/worleyparsons-warns-on-currency-exposure/

*WorleyParsons warns on currency exposure*
The West Australian October 27, 2009, 1:37 pm 

*Engineering firm WorleyParsons says a strong Australian dollar is hurting its foreign currency earnings and could shave $35 million to $40 million from its expected 2009/10 net profit.*

The bouyant currency had already led to a performance that was below expectations in the first quarter of the financial year, chairman Ron McNeilly told shareholders at the group's annual general meeting in Sydney on Tuesday.

"We expect this trend to continue in the second quarter," Mr McNeilly said.

"We are projecting a more significant weighting of earnings to the second half of the financial year, but with our first half year result predicted to be well below that of the corresponding period last year.

"If today's currency rates ... were to reflect the average translation rate of foreign currency earnings for the remainder of the financial year, the expected net profit impact for the full year would be in the order of $35 to $40 million.

"This impact would be additional to the modest reduction in net profit predicted in our August outlook statement."

WorleyParsons said in August that uncertain market conditions made it unlikely it would repeat its 2008/09 result - when net profit rose 13.6 per cent to $390.5 million - in the 2010 financial year.

However, Mr McNeilly said the company was confident that its medium and long-term prospects remained strong "based on our competitive position and our financial capacity", which positioned it "to pursue growth opportunities that may arise".

The company had cash and cash equivalents of $178.3 million, current liabilities of $1.01 billion, and debt facilities of $1.376 billion at the end of June.

"The company continues to evaluate opportunities for new business growth that would add to our existing capabilities," Mr McNeilly said.

Chief executive John Grill said the company had "proven extremely resilient through this tumultuous economic climate", was currently involved in numerous multi-billion dollar projects and was "well positioned for long-term growth".

"We are also actively tracking a large number of potential new mega-projects and anticipate a significant pool of new work will be released as the global economy recovers translating into new capital investments in our markets," Mr Grill said.

"While the rate of new project development is likely to be subdued in 2010, early phase study and feasibility work should position WorleyParsons strongly when these projects recommence."

Shares in Worley closed down $2.32 at $26.68

183


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## StumpyPhantom (25 November 2009)

*WOR - Likely foreign takeover? And when*

Anyone have a view about the AFR Weekend edition article about WOR being a $6bn meal for a bigger company wanting exposure to oil and gas?  What is the likely takeover premium to the WOR share price if this happens or is Grill to wedded to his 14% stake?


----------



## skc (13 January 2010)

*Re: WOR - Likely foreign takeover? And when*



StumpyPhantom said:


> Anyone have a view about the AFR Weekend edition article about WOR being a $6bn meal for a bigger company wanting exposure to oil and gas?  What is the likely takeover premium to the WOR share price if this happens or is Grill to wedded to his 14% stake?




What a nice thumping noise it made when it fell 11% this morning. Currency issues, project delays... there may be a pattern across some of these engineering service firms. The budget cuts made mid last year by the big mining / oil and gas firms are now flowing through to a poor half year for their suppliers. Wouldn't be surprised if a few other firms in this area will have similar downgrades.

I closed a short on this 2 days ago as part of a pairs trade  These silly management can't even get their media release timing right. Darn it!


----------



## 3 veiws of a secret (14 January 2010)

I am not suprised by the drop today as i have a close friend working or lets say worked for WOR. If workers are not getting relocated to other projects it only means no work. Am I shocked by todays fall not all.
PS not a holder of the share but watching the horizon!


----------



## Ezyoptions (14 January 2010)

SKC It sure did land with a thud! That's if it has landed. What a great stock for a day trade though! Taken a few positive chunks in this last run-up. I still think it's a solid company though.... What's your thoughts??


----------



## skc (14 January 2010)

3 veiws of a secret said:


> I am not suprised by the drop today as i have a close friend working or lets say worked for WOR. If workers are not getting relocated to other projects it only means no work. Am I shocked by todays fall not all.
> PS not a holder of the share but watching the horizon!




I know a few people working there and they have been quiet as well...



Ezyoptions said:


> SKC It sure did land with a thud! That's if it has landed. What a great stock for a day trade though! Taken a few positive chunks in this last run-up. I still think it's a solid company though.... What's your thoughts??





It's nothing just about buying a solid company. It's about buying solid company at a great price. 

I don't mind it as a company but I think the market has always priced it as a very high growth company. i.e. very expensive. With profit expected to be ~$300m, it's still trading at PE 20. So I am with you questioning whether is has landed.

I will look at it when PE hits 12...


----------



## 3 veiws of a secret (14 January 2010)

Just looking across the sector that WOR is focused in ,other players in this niche market are being touched by what is happening to WOR ...I think BKN is in positive territory ...  
But I agree with one of you that it has been a day trading share to play with....


----------



## skc (14 January 2010)

3 veiws of a secret said:


> Just looking across the sector that WOR is focused in ,other players in this niche market are being touched by what is happening to WOR ...I think BKN is in positive territory ...
> But I agree with one of you that it has been a day trading share to play with....




What day trading? It's a daily range of <$1.. not much to play with really. All the movement are gaps.


----------



## YELNATS (14 January 2010)

As a WOR holder, the announcement of an up to 12.5% forecast profit downgrade yesterday isn't great news, but it can be overemphasized.

I think the market has done that with its' heavy reduction in the price from about $30 to about $25.

In many ways, the announcement is a reflection of what has happened rather than what is expected to happen. I'm also happy that WOR has released the news when it has - bad news early is better than bad news later.

I've taken the opportunity to top up just above $25 and will top up again it if goes below $25, as over the next 5 years I believe this company should do well out of any expected recovery of mining and resources worldwide.


----------



## Julia (14 January 2010)

3 veiws of a secret said:


> Just looking across the sector that WOR is focused in ,other players in this niche market are being touched by what is happening to WOR ...I think BKN is in positive territory ...



That's right.  My portfolio took a substantial hit yesterday with WOR (in which I'm overweight), MND and LEI.

Yelnats, agree that there has been somewhat of an overreaction.


----------



## TheAbyss (19 January 2010)

Anyone have an idea on where this might level out? $26,$24 and $22 are all a chance however it went through $26 like it was bubble wrap.

$18 is a real position of strength however i would be very surprised if it went that low (not to mention disappointed and lighter in the wallet).


----------



## 3 veiws of a secret (19 January 2010)

skc said:


> What day trading? It's a daily range of <$1.. not much to play with really. All the movement are gaps.




Sorry don't hang around this forum much these days....
It was good enough to me for the money that was invested last Sept>Oct (hmmm could have been Nov also)... on and off they were only some 4 or 5 trades in this period..... you would'nt get me looking at this share at all now.... I have moved on..... 
PS as I type its down 75 cents ,looks like the money is on the move out.


----------



## gfresh (20 January 2010)

Worley was trading with a large premium, on the expectation that this years profit would be much larger than last year. With reduction of that expectation, and further reduction possible if recovery is not as strong as expected towards the end of the year. So I don't think the premium is justified given the risk. 

One of the reasons I sold @ $28, but looking to buy back in sometime soon(ish).


----------



## adrunis_84 (9 March 2010)

Bought WOR @ 24.87 - Saw an increase today up to 25.20. 

Interesting announcement just after close - worth watching?


----------



## nomore4s (9 March 2010)

adrunis_84 said:


> Bought WOR @ 24.87 - Saw an increase today up to 25.20.
> 
> Interesting announcement just after close - worth watching?




Because this is your first post here, I'm going to cut you a bit of slack. This sort of post doesn't really cut the mustard I'm afraid.

If you want to create some discussion and get people's thoughts you really need to add some more detail.

What was the announcement about? What are your thoughts on the announcement and the effect it will have for the company?


----------



## adrunis_84 (9 March 2010)

Apologies - a bit new to this! 

The announcment was an update of an earlier release in 16th of June 2008 (so quite some time ago). SNE (dont ask me to spell the name!), a russian company with which WOR has a 49% stake has been awarded work order to cover engineering and procurement for the Arkatun-Dagi offshore platform topsides project - an offshore oil and gas development.

Furthermore - this will be one of the largest floatover topsides in the world. Work orders total $400million - 200 for procurement and 200 for services. 

I get the impression this is a big project? Does anyone know much about this project with SNE? My thoughts are this announcement would see an reasonable increase in WOR share prices?


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## JTLP (17 May 2013)

Wowwee...Worley the next engineering firm to throw a spanner in the works.

On balance - their announcement actually looked a lot more positive than UGL - but still hammered? Roughly the same revenue as 2012?

I guess Mr Market didn't like getting any other information apart from this? I also wonder if LEI will drop the ball soon?


----------



## pixel (13 November 2013)

WOR gave me a buy signal recently; while I didn't chase it yesterday, I am buying a few in today's pullback.





The weekly chart determines my stop, currently at $21.50.




Upside as per Fibonacci extensions, albeit with trailing stops rising.


----------



## peter2 (13 November 2013)

WOR: Price triggered a buy alert for me also yesterday and I didn't chase it. 
I will wait for a bit more mkt confirmation before buying.  
If price closes below 21.00 - not interested.


----------



## pixel (15 November 2013)

I have accumulated, although it's not strictly a Trinity trade anymore. As long as it keeps making green candles, I'm happy


----------



## pixel (20 November 2013)

pixel said:


> I have accumulated, although it's not strictly a Trinity trade anymore. As long as it keeps making green candles, I'm happy



"Trading Update": http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01467528

"Not happy, Jan!"


----------



## Craton (20 November 2013)

OUCH pixel!

Revised trading update (aka more bad news):http://www.asx.com.au/asxpdf/20131120/pdf/42kzmw81lbftn8.pdf

Oops, now see you've posted the update too...


----------



## skc (20 November 2013)

About a month ago in the AGM management predicted further growth in NPAT. A month later a 15% downgrade and very weak first half.

There were quite a few analysts sounding cautious about that particular outlook statement at the time but most decided to give management benefit of the doubt. So this update really came out of the left field and left management's credibility to shot.

Shorting on open, even though it was already down 16%, was the right move (that I didn't do  ).


----------



## notting (20 November 2013)

It's still not a terrible number.  It's a terribly dishonest number!
Poor Pixel not your fault mate.
Class action? 
You cannot change the numbers that quickly in a month. 
Perhaps they haven't started using computers yet and it's all done on paper still.  That would make sense.


----------



## skc (20 November 2013)

notting said:


> It's still not a terrible number.  It's a terribly dishonest number!




That's a good way to describe it although I think the numbers could get worse.

The PE market ascribes to an engineering outfit with rising profits vs one with falling profits is probably 14 vs 7. At $280m or ~$1.10 EPS, that's a share price between $15.4 and $8. We are still above that range! Yes I am perhaps annualising a bad half. But don't forget that to hit their guidance they still need a bumper second half, while MND yesterday has said that H2 is not looking any better than H1. I don't think there's a buonce in this name in the short term.


----------



## Klogg (20 November 2013)

skc said:


> That's a good way to describe it although I think the numbers could get worse.
> 
> The PE market ascribes to an engineering outfit with rising profits vs one with falling profits is probably 14 vs 7. At $280m or ~$1.10 EPS, that's a share price between $15.4 and $8. We are still above that range! Yes I am perhaps annualising a bad half. But don't forget that to hit their guidance they still need a bumper second half, while MND yesterday has said that H2 is not looking any better than H1. I don't think there's a buonce in this name in the short term.




Macrobusiness have had a few posts about planned mining capex spend in the years to come... and if that's anything to go by, profits have only started to tank.
Granted there are recurring maintenance contracts, but the competition of these would probably increase as a result of the capex decline.


----------



## piggybank (20 November 2013)

What the big surprise? The stock has been in an obvious downtrend since April 2011


----------



## PinguPingu (16 December 2013)

Up more than 5%, short squeeze? Not particularly high volume either


----------



## skc (16 December 2013)

PinguPingu said:


> Up more than 5%, short squeeze? Not particularly high volume either




Some one has decided to buy all the mining services today. Could be real buying, or covering shorts, ahead of the holdiays.

MND, UGL, BLY, ALQ, FWD, BKN... all up 3-7%.

There's no real news affecting the whole sector as far as I know.


----------



## dlineinvestor (22 October 2014)

More upside then downside you reckon  ?
In a strong support zone, how many of you would top up here ...
A good company but mining has to turn  around.


----------



## VSntchr (22 October 2014)

dlineinvestor said:


> More upside then downside you reckon  ?
> In a strong support zone, how many of you would top up here ...
> A good company but mining has to turn  around.




It copped a downgrade which caused a bit of selling this week.
Not a sector I'd like to be in, but you'd think these guys are one of the stronger players...although the downgrade was related to the fact that the price might already have this factored in


----------



## dlineinvestor (22 October 2014)

Cheers, VS
Good company, good prospect for a 10 bagger, lot's of "buts for now.
We'll see if the price moves along, if we are in a market recovery. 
IMO in value now, would be nice if there was a way to see if the "big's are accumulating ?


----------



## piggybank (22 October 2014)

dlineinvestor said:


> More upside then downside you reckon?




I cannot see how a support area from 6/7 years ago is relevant now, maybe 2/3 - A lot of things have changed new players, new dynamics, etc

However, I could be wrong and it may take off tomorrow and I would end up with egg on my face. Given that it is still heading downwards, I would wait until it has definitely turned the corner.


----------



## skc (22 October 2014)

dlineinvestor said:


> Cheers, VS
> Good company, *good prospect for a 10 bagger*, lot's of "buts for now.
> We'll see if the price moves along, if we are in a market recovery.
> IMO in value now, would be nice if there was a way to see if the "big's are accumulating ?




You are being a bit optimistic?


----------



## pixel (22 October 2014)

dlineinvestor said:


> Cheers, VS
> Good company, good prospect for a 10 bagger, lot's of "buts for now.
> We'll see if the price moves along, if we are in a market recovery.
> IMO in value now, *would be nice if there was a way to see if the "big's are accumulating ?*




According to Pulse's "Broker Report" for the period since September 1st, the biggest net sellers have been Deutsche Bank, Macquarie, and Morgan Stanley, selling more than 1 Million shares each, for a combined net total of $61M.

During the same period, UBS, JP Morgan, and Goldman Sachs were net buyers to the tune of over $54M.

Comsec clients have also been buying more than selling.


----------



## notting (27 January 2015)

Had a killer week last week and ran hard on a relatively pathetically small oiler contract win in rate cut Canada!!
People waking up today! But not fully awake yet.


----------



## pixel (29 January 2015)

notting said:


> Had a killer week last week and ran hard on a relatively pathetically small oiler contract win in rate cut Canada!!
> People waking up today! But not fully awake yet.




It's possibly the threat of a Class Action that spooked a few holders.
Since late November, clients of Credit Suisse, Shaw, and Deutsche have been major net sellers, but ITG and Merryl Lynch were buying. If the Market has serious concerns, the Biggies are usually all selling.




The chart seems to suggest a bottom has been found; it even has the potential to become a Double Bottom. I also notice the Bullish Divergence in the Momentum window. On that basis, and seeing sp has returned back into the channel, I'm again Long a small position.


----------



## notting (29 January 2015)

Well, it is always a little hard swimming against the tide toward a dividend payment, all be it the smaller one of the two annual payments.
Better hope they don't cut it and I'd be looking to get out just before it if I were long.
Oil and Gas services as blue chip as WOR is, is not a space to be long, well, unless you bought this morning. Some smart people seem to have!
Good day!


----------



## pixel (16 February 2015)

It may have taken four attempts, but resistance seems to be broken at last. 




Waiting for the pullback, testing the breakout level. If that holds, I'll top up.
The open gap above makes a good first target. Stop if the break level doesn't hold.


----------



## peter2 (13 March 2015)

You got your pullback, but the test failed. Now I see signs of demand. If price fills that gap (12.00) then the best RR is to buy now. 

This is most definitely a reversal buy in a badly damaged sector. I'm being very cautious. 
As I write this there is plenty available at 10.10 and I'll buy a few for the Pav Mom Portfolio. 
This is called pre-empting the 2nd break-out.


----------



## pixel (17 April 2015)

If at first you don't succeed ...
The rising oil price aside, I have no idea what kind of *fundamental *change might justify the sudden rally. *Technically *though, the _Harami Cross_ on Tuesday-Wednesday was a give-away. And if I had been awake at the time, I might even have noticed and doubled-up at the time. Oh well, 15% over 2 days is a useful profit even for a single-size holding


----------



## pixel (17 June 2015)

nothing moves in straight lines 
but waves offer some reasonable swing trades.


----------



## notting (6 May 2016)

What's it going to do next after showing uncanny strength?


----------



## pixel (6 May 2016)

notting said:


> What's it going to do next after showing uncanny strength?
> 
> View attachment 66551




Hi Notting,
where do you get your data? The next-to last candle and the earlier one on March 19th cast a much longer shadow than anything I've seen.




That aside, I see a sequence of Higher High. Higher-Low, suggesting some kind of longer-term recovery.
Currently though, I don't hold a WOR position, neither long nor short.


----------



## notting (6 May 2016)

pixel said:


> Hi Notting,
> where do you get your data? The next-to last candle and the earlier one on March 19th cast a much longer shadow than anything I've seen.
> .




It's doubled in price since mid feb.
Guess that's where I comen from


----------



## leyy (1 June 2018)

I have taken a position in WOR on the recent dip entry $13.85.

Next price target is $19.00 where there is some resistance.

It's been on an uptrend since early 2016, and has had a good price recovery from circa $3.00 as the business has transformed significantly over the last 4 years. Gross margins and EBIT margins are increasing and cost reductions over $500M annually. Market sentiments have improved and the business is positioned well to grow.

Business has a very strong management team with both the Chairman John Grill having been with WOR for around 40 years and has close to 28M stock worth about $500M and the CEO/MD that has been with the business with over 20 years.


----------



## luutzu (1 June 2018)

leyy said:


> I have taken a position in WOR on the recent dip entry $13.85.
> 
> Next price target is $19.00 where there is some resistance.
> 
> ...




I haven't taken a detailed look but a quick comparison shows that MND is a much better managed company with strong financial position than WOR. 

It's been winning too many jobs lately. Got to keep an eye out on how they'll do with those contracts. Debt position is pretty high.


----------



## leyy (1 June 2018)

luutzu said:


> I haven't taken a detailed look but a quick comparison shows that MND is a much better managed company with strong financial position than WOR.
> 
> It's been winning too many jobs lately. Got to keep an eye out on how they'll do with those contracts. Debt position is pretty high.




Agreed, the debt is higher than my usual liking. However, WOR has always had a relatively high gearing ratio over the last 10 years, it is improving though and same as their operating cash flows which is a good sign from a negative 55.2M to positive operating cash flow of 82.2M from operating activities in the last update.

I have to look at MND again its looking quite attractive at that price point.


----------



## luutzu (1 June 2018)

leyy said:


> Agreed, the debt is higher than my usual liking. However, WOR has always had a relatively high gearing ratio over the last 10 years, it is improving though and same as their operating cash flows which is a good sign from a negative 55.2M to positive operating cash flow of 82.2M from operating activities in the last update.
> 
> I have to look at MND again its looking quite attractive at that price point.




Will the new project wins impact its debt structure? Needing to raise new equity and borrow?

$82M operating cash but selling at $4.5B seems a bit high. But yea, I got stuck on MND so didn't bother looking into diversifying into anymore engineering companies. 

Hoping MND would drop a bit further, best if it's by the time SRX is taken over and I got the cash back. Seeing how I sold some of MND at $13s to buy SRX at $12s, that would make me look really smart. A lot smarter than when I bought into MND at $16 years ago 

GRG Engineering is, I think, worth a look into. I don't own it, yet. Keeping an eye out though.


----------



## leyy (2 June 2018)

luutzu said:


> Will the new project wins impact its debt structure? Needing to raise new equity and borrow?
> 
> $82M operating cash but selling at $4.5B seems a bit high. But yea, I got stuck on MND so didn't bother looking into diversifying into anymore engineering companies.
> 
> ...




Whats the stock code for GRG? I can't seem to locate it


----------



## luutzu (2 June 2018)

leyy said:


> Whats the stock code for GRG? I can't seem to locate it




GNG.

GR Engineering.


----------



## bigdog (22 August 2018)

*52 weekly low $11.55 and today five year high $$18.99*







Motley Fool reported

The share price of *Worleyparsons Limited* (ASX: WOR) rallied to a five-year high today after it posted a full-year profit result that showed it was only at the start of its growth cycle.

The stock surged 3.8% to $18.88 ahead of the market close, bucking the 0.4% drop on the *S&P/ASX 200* (Index:^AXJO) (ASX: XJO) index.

The stock is heading towards $20, in my opinion, after management posted 39.1% increase in underlying net profit to $171.4 million as aggregated revenue rose 8.5% to $4.8 billion for the year ended June 30, 2018.

The jump in top and bottom-lines aren’t the only reason to get excited about the oil & gas services company either.

Worleyparsons recorded a 229% uplift in operating cash flow to $259.7 million and underlying earnings before interest and tax (EBIT) and net profit margins have expanded to their highest level in five years.

This makes the company a standout. While the majority of companies’ profits have met or exceeded consensus expectations so far in this reporting season, not many have enjoyed better margins due to rising cost pressures.

Further, management said the integration of recently acquired UK Integrated Solutions is going better than expected with synergies running ahead of target.

Strong oil and gas prices have spurred energy companies to ramp up exploration and production activities and this bodes very well for Worleyparsons’ outlook with the backlog of work ballooning by 25.5% to $6.4 billion.

The jump in profit and cash has enabled the company to pay down debt by over $100 million in FY18 to bring its gearing down to a conservative 23%.

However, its infrastructure division posted an 11.6% drop in revenue due to a winding down of a large project in the Middle East. This division is also a relatively small part of the group (around 15% in revenue terms).

The only thing missing is a capital return on top of its 15 cents a share final dividend – its first since 2015. But this shows companies don’t need to throw a special dividend or hand back extra cash to shareholders to win support.


----------



## leyy (22 August 2018)

yes a very good result.

will look at topping up my existing holdings, as the next short term price target is $24.00


----------



## bigdog (23 October 2018)

ASX Announcement yesterday
*22/10/2018 11:03:45 AM  Acquisition of Jacobs ECR and Associated Capital Raisin*g


















View attachment 89946


----------



## luutzu (23 October 2018)

bigdog said:


> ASX Announcement yesterday
> *22/10/2018 11:03:45 AM  Acquisition of Jacobs ECR and Associated Capital Raisin*g
> 
> View attachment 89941
> ...





I'd be very careful with WorleyP. 

I looked at it couple years back. Its balance sheet weren't good then... and ever since it has a pattern of debt, cap raising to acquire and expand.

Too much corporate action for what ought to be a cautious, conservative business. Engineering and construction needs plenty of cash and little managerial time playing with finances and empire building.


----------



## bigdog (24 October 2018)

*The shareholders did not like the deal!!!*

*Previous close was $17.840
Entitlement Offer (“Offer”)  at $15.56 per share (13% discount)
Current price today $15.89 at 10:23 AM*

The Institutional Entitlement Offer (“Offer”) raised the full amount being approximately $1.8 billion at $15.56 per share (“Offer Price”). The Offer was well supported by eligible institutional shareholders, with a take-up rate of 90% (excluding the entitlements of John Grill and Dar Group) and of 82% including all eligible institutional shareholder entitlements. The institutional shortfall bookbuild was heavily oversubscribed from both existing WorleyParsons shareholders and other institutional investors.







*Todays Announcement
24/10/2018 9:43:03 AM Successful completion of the Institutional Entitlement Offer






7473*


----------



## bigdog (25 October 2018)

https://www.heraldsun.com.au/busine...e/news-story/69a2a709a4a8cbb5439ab169bd863fe6

*Terry McCrann: Worley Parsons’ directors responsible for crash in value*

WORLEY Parsons’s once-in-a-(corporate)-lifetime US deal might or might not prove to be the making of the company, but on day one it’s proved a far more certain value destroyer for the company’s shareholders.

As of last night a total of more than $500 million had been destroyed.

Further and appallingly, directors quite deliberately twisted the knife by denying all shareholders, and especially the retail ones, the right to sell their entitlements to new shares.

True, if the share price falls much further — a mere 2 per cent or so after Wednesday’s plunge — and yet more shareholder value was destroyed, that “right” would be rendered entirely academic anyway.

I would add that directors have been aided and abetted in this — a combination of classic insider arrogance and quite frankly old-fashioned stupidity — by some of the (usually self-proclaimed) “smartest guys in the room” at investment banks UBS and Macquarie Bank.

One can only hope that the WP share price _does_ fall further and that their “smartness” ends up costing them real dollars on their underwriting commitments.

In simple terms, someone who owned 1000 WP shares went to the last weekend with an investment valued on the market at $17,840.

On Wednesday that investment was worth $15,810. Thank you very much company directors and “smartest guys”.

Of course, that shareholder can recoup some of the loss if he or she is prepared to stump up $10,581 to subscribe for their full entitlement to new shares. On Wednesday’s closing price they would recoup the princely sum of $170.

They would do better — and probably have less risk and certainly a more immediate result, one way or the other — to put the $10,000 on Winx on Saturday. They could certainly have greater faith in Chris Waller to look after their interests.

In any event that $170 would make only a small dent in their loss; it would trim it to $1860. And to recover that “princely sum” they would have to increase their investment in WP from around $16,000 to over $26,000.

These calculations are obviously on the state of play on just day one yesterday.

The WP share price could of course pick up; investors might warm to the deal to buy Jacobs and double down on the company’s presence in the US.

The WP share price could of course also go down further — and potentially, significantly further.

It would only take a small further drop in the next two weeks to discourage any sane retail shareholder from subscribing for new shares.

WP closed at $15.81 on Wednesday. You have to pay $15.56 for new shares.

Now directors, and those “smartest guys”, might think — maybe hope would be a better word — that shareholders would happily put their hands in their pockets to pay $15.56 for new shares which could by then be trading at, say, $15.26. I suggest not.

There is one unusually big — indeed humungous — “retail” shareholder, which is indeed the company’s _biggest _shareholder with a 24 per cent holding.

It’s the Lebanese-Dubai-Saudi Dar Group.

It appears to have been “surprised” by the WP move. It was only able to guarantee to subscribe upfront in Tuesday’s insto offer for $170 million of its $660 million total entitlement. It‘s considering what it will do in relation to the remaining $490 million entitlement under the retail offer.

It can watch to see what happens to WP’s share price specifically. It can watch to see what happens to the market overall, over the next two weeks.

Directors and especially those “smartest guys” do _not _want to see Wall St take a dive. UBS and Macquarie will have to take up any shortfall. As of Wednesday there was a $1.1 billion “shortfall” — the amount of the retail (including Dar) entitlement.

They get a fee of 1.58 per cent on the $2.9 billion subscription total (less the $100 million coming from WP founding chairman John Grill). The $44 million would cover them for a fall in the share price to around $15; any lower and they would start to lose money.

The directors and the “smartest guys” were too clever by half on two levels.

First, in setting too low a “discount” in a very, very big share raising at a time when Wall St was teetering very nervously at record highs.

Supposedly market-savvy investment bankers didn’t seem to understand that while they might be in love with the deal, having a near one-for-one issue at just a 13 per cent “discount” to market — $15.56 to $17.84 — was asking for trouble.

Then, in trying to freeze out the company’s biggest shareholder in Dar, they were all but guaranteeing it would probably be Trouble with a capital-T.

There are going to be some very nervous investment bankers watching Wall St every night over the next two weeks; and watching to see how much of the $490 million Dar now puts in next Wednesday week.

7524


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## basilio (25 October 2018)

As Terry McCrann suggested this capital raising exercise looks like being a bloodbath for almost everyone.

WOR closed at $14.66 today - close enough to a $1* under* the price the company wants shareholders to pay for the new issue.

Good luck with that..


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## JTLP (25 October 2018)

basilio said:


> As Terry McCrann suggested this capital raising exercise looks like being a bloodbath for almost everyone.
> 
> WOR closed at $14.66 today - close enough to a $1* under* the price the company wants shareholders to pay for the new issue.
> 
> Good luck with that..




Feels like a strange time to be making an acquisition of this magnitude to be honest


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## bigdog (26 October 2018)

Terry's update of WOR today

https://www.heraldsun.com.au/busine...s/news-story/c30d5715086499f9491dea50c88c61ed

*Terry McCrann: WP holding its breath over $1.1b from retail holders*
Terry McCrann, Herald Sun

OH dear, market plunges can come at the most awkward times.

This one is very “awkward” for companies like Worley Parsons which have been caught in the middle of a major share issue.

That’s, as I noted on Thursday, in the middle of a very stupid — “screw our shareholders” — sort of major share issue.

On Wednesday, the WP directors were “pleased” to announce the “successful completion” of the institutional component of the massive $2.9 billion raising.

The take-up was 90 per cent, which indirectly announced that WP had some intelligent holders — not a lot, but at least a few.

The remaining 10 per cent of the $1.8 billion raised came from the two underwriters, UBS and Macquarie.

The timing couldn’t have been more spectacular — as in, spectacularly bad — with what was to follow overnight on Wall St. At Thursday’s close they were all already losing over $100 million of the $1.8 billion.

That’s importantly, _plus_, what they had also lost on their original holdings, thanks to the “inspired” actions of their board, which I also detailed Thursday and has now wiped a bracing 18 per cent from the value of every holding in the space of less than a week.

More pungently, irrespective of what now happens on Wall St and so in our broader market — absent some utterly improbable and indeed impossible resurge — WP has a very particular problem. It’s waiting on the subscription of another $1.1 billion from its retail holders. This is unusually large because it has a very special “retail” holder — indeed the company’s biggest holder, which had a holding of 24 per cent before the issue.

This is the Lebanese-Saudi-Dubai Dar group, which subscribed $170 million into the insto offer and now, along with all other retail holders, has until November 7 to decide whether it will subscribe its remaining $490 million (of the $1.1 billion).

Hmm, holders have to pay $15.56 for new shares.

At Thursday’s closing price of $14.66, that does not look compelling.

Now the overall market _could_ recover. Or investors _could_ suddenly decide WP has a brilliant future as a consequence of its $4.6 billion plunge deeper in to the US.

But right now it has that $1.1 billion problem. Yes, it’ll get the money even if holders subscribe diddly squat. It would come from UBS and Macquarie, but that would then hang over the market for WP shares like a big black cloud or the mother of all shorts.

It becomes very, _very_, interesting to see what Dar does. The board might well have opened the door when they thought they were slamming it shut.


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## bigdog (8 November 2018)

Terry McCrann update

As a consequence, sensibly and reasonably, WP is now giving retail investors until Friday close of business to subscribe.
1
But WP must also disclose on Thursday whether any commitments or assurances were made to Dar to persuade it to tip in the extra$476 million. Both ASX and ASIC should ask the relevant questions to keep holders and the market fully and timely informed.

Further, anyone selling around the $14 mark on Wednesday morning — and indeed as low as $13.87 — before the WP announcement at 11.39am would not be happy. WP must also explain why the statement was not made before trading opened.

https://www.heraldsun.com.au/busine...tory/27c1dea37cfb22a17500fd349250e0b3?login=1

*DAR BLINKS AND WP LEAPS*

THE Lebanese-Saudi-Dubai Dar group blinked — and the ‘smartest guys’ in various investment back rooms in Melbourne and Sydney have breathed some huge, literally multimillion-dollar in aggregate, sighs of relief.

As the horses lined up for the Cup on Tuesday, the various big investors who had taken a very big punt on the mammoth $2.9 billion Worley Parsons share issue were looking down the barrel at huge losses.

They faced the prospect of having to pay $15.56 for a stack of new WP shares that were trading in the market at just $14.07. The immediate loss added to potentially more than $100 million.

Further, that would come on top of what they were already losing on the new shares they had already bought a week ago at $15.56. All Dar had to do was sit on its hands.

The potential losers were the sub-underwriters of the WP issue — institutional investors who had guaranteed to subscribe for any shares in the WP issue not taken up by retail holders by the close of business on Wednesday.

Unusually, indeed uniquely, the single biggest ‘retail’ holder was the Dar group, which had already subscribed for $185 million of the new shares in the $1.8 billion insto component of the WP issue. But it was up for another $476 million in the retailpart — almost half the total remaining.

It faced its own form of punt. Would it put its hand up to take the shares and so maintain its 23 per cent stake in WP? And relieve the obligation on the sub-underwriters?

Or would it pass and allow itself to be watered down to around 16 per cent — which arguably was precisely one of the objectives of the whole WP exercise of its company-making US acquisition, financed mostly by this share issue?

Dar would have been punting on a lot of unwanted shares sitting in the hands of the subbies — that, therefore, there wouldhave been plenty of shares available to allow it to creep back up the WP register, maybe not as cheap as $14.07, but likely considerably cheaper than the $15.56 subscription price.

Well, Dar decided to play safe: WP announced on Wednesday Dar would subscribe directly for those $476 million of shares, and the WP share price promptly leapt $1.47 to be just a whisker belowthe subscription price at $15.54.

As a consequence, sensibly and reasonably, WP is now giving retail investors until Friday close of business to subscribe.

But WP must also disclose on Thursday whether any commitments or assurances were made to Dar to persuade it to tip in the extra$476 million. Both ASX and ASIC should ask the relevant questions to keep holders and the market fully and timely informed.

Further, anyone selling around the $14 mark on Wednesday morning — and indeed as low as $13.87 — before the WP announcement at 11.39am would not be happy. WP must also explain why the statement was not made before trading opened.


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## bigdog (13 November 2018)

Terry McCrann update Nov 13

*"Hullo? Hullo? Could someone check to see whether anyone is awake down there at ASIC and ASX?"*

https://www.heraldsun.com.au/busine...h/news-story/3e13a5232003822e8331d908c3ffad3c

*WP ‘SUCCESSFULLY’ SHAFTS HOLDERS*

Worley Parsons has triumphantly announced the successful completion of the retail component of its humungous share issue.

Pity it has been somewhat less than successful — actually, downright disastrous for _all _its shareholders, both the retail ones and arguably even more so the institutional ones.

The $2.9 billion issue, and the associated $4.8 billion US acquisition that it largely financed, as of yesterday had neatly ripped 15 per cent off the value of every pre-existing holding and of the entire Worley company itself.

A holder who held 1000 Worley shares going into the big announcement three weeks ago had an investment worth $17,840. At yesterday’s close it was worth $15,210.

If that shareholder had subscribed for his or her entitlement in the issue, he/she would have bought another 680 shares at a cost of $10,580. That extra parcel was worth $10,343 immediately yesterday.

They should think of the $237 extra loss on the $2639 lost on the basic stake as that holder’s contribution to the “successful completion” of the offer.

Retail holders were actually lucky. They got a couple of weeks to see what the market did to Worley shares on the news of the deal and the issue.

The insto holders had to make their $1.8 billion decision in the dark, the day after the announcement. They mostly took up their entitlements — the take-up rate was 90 per cent.

And when the Worley share price fell as low as $13.74, they were looking at the loss of as much as $220 million on the $1.8 billion they had just subscribed, either directly or by sub-underwriting that 10 per cent shortfall.

Plus of course the much bigger sums they were also losing on their basic holdings. At that trough, the holdings of all the core holdings had been sliced a tingling 23 per cent.

They can all — insto and retail holders and directors and both prime underwriters and sub-underwriters — breathe one big collective sigh of relief that the share price has come significantly back from those depths.

For that, they can thank the Saudi-Lebanese-Dubai Dar Group for taking up its full $660 million entitlement as Worley’s biggest shareholder.

The announcement ‘just in time’ that it would do so last Wednesday sent the Worley share price rocketing.

It not only saved all the other shareholders from big losses; it meant the subbies only had to pick up $530 million of shortfall from the retail part of the issue instead of more like $1 billion-plus if Dar had passed. I guess that would have made for a somewhat less successful “successfully completed” offer.

As I’ve written: who knows, the buying of Jacobs might be the making of Worley; the low share price of the last few weeks might fade into distant memory.

But if so, retail holders might then be reasonably upset at the company for “persuading” them not to subscribe.

That’s in the distant future; right now there is around $700 million of Worley shares acquired by the subbies that they didn’t really intend to get, hanging over the market and the share price.

Worley also needs to tell holders and the market generally whether it did any ‘deals’ with Dar to persuade it to take up its entitlement. Indeed, it needs to tell if it did _not_.

Hullo? Hullo? Could someone check to see whether anyone is awake down there at ASIC and ASX?


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## bigdog (27 February 2019)

1H 2019 results


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## bigdog (6 March 2019)

Worley Parsons my ASF tip for March 2019 and also included my full year tipping 2019 (1 of 4)

March 2019 is currently 17th





https://www.livewiremarkets.com/wir...-price-here-are-two-that-look-cheap-right-now

* Every company has a price. Here are two that look cheap right now *



Patrick Hodgens 

*WorleyParsons (ASX:WOR)*
Worley is a global engineering firm specialising in hydrocarbons, chemicals and the mining sectors. Their key specialty is the oil and gas sector.

So why buy Worley? Three things that matter for the company:

*1) The cycle has turned*

The global oil and gas capex cycle has turned, and it's turned quite strongly positive. What we have here is Worley's revenue history over the past 10 years has an incredibly high correlation to the oil and gas capex cycle.

If you cast your mind to 2014 which was the peak of revenue for Worley, that was when oil was trading at US$110 a barrel. The next two years, oil collapsed down to US$30 a barrel. As you'd expect, the oil and gas majors shelved a lot of projects, reduced their maintenance and investment capex. As a result of that fall, Worley's revenue effectively fell by around 50%.

What's happened since 2017 is that oil and gas capex cycle has bottomed, and it's turned quite strongly.






*2) Dividends will continue to grow*

Management have embarked on significant cost out opportunities and a lot of dividends should be coming as a result of that. The company has been totally transformed in the last two to three years.

Tom Honan is a very experienced operator. He was the CFO of both Computershare and Transurban, and in 2016 he was offered the role of CFO for Worley to really shake it and he's done exactly that. He's actually taken $500 million off the cost base already, transformed the balance sheet and has also improved the cash flow statements.

Tom Honan really is a game changer for the Worley business.

*3) An EPS accretive acquisition*

And finally, in October last year, they acquired a US business called Jacobs' ECR and outstanding EPS accretive business for Worley. It was a very complimentary and a strategic acquisition.

So much so that Worley has three business streams now, it's actually global number one player in two of those business streams. It allows them to bid for those mega Middle Eastern projects that they were broadly precluded from in the last couple of years.

There's well over $130 million of synergies and if Tom has his way, that number will probably be close to $200 million in the next 6 to 12 months.

*It’s way too cheap..*

It's trading on 13 times FY20 earnings. And for a good quality company, with strong earnings that will grow for four or five years. Even excluding Jacobs', the business today with the current oil price at around US$62 is worth close to $17, $18 a share.

And if we're right with the Jacobs' acquisition and Tom's initiatives with regards to synergies, this company's worth over $20 a share, and really a 40% uplift of where it is today.


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## bigdog (27 March 2019)

WOR Worley Parsons my ASF tip for April 2019 and also included my full year tipping 2019 (1 of 4)
.
Motley fool article last week
https://www.fool.com.au/2019/03/21/...e-closes-higher-on-jacobs-acquisition-update/

*WorleyParsons share price closes higher on Jacobs acquisition update*
Lachlan Hall | March 21, 2019

The *WorleyParsons Limited * (ASX: WOR) share price has closed 1.66% higher at $14.72 today after two key ASX updates from the Aussie engineering contractor in the last 24 hours.

*Update on the company’s Jacobs acquisition*
WorleyParsons provided an update on its binding agreement to acquire Jacobs Engineering Group Inc.’s Energy, Chemicals and Resources (ECR) division as announced on 22 October 2018.

WorleyParsons announced that today it received regulatory clearance from the Committee on Foreign Investment in the United States (CFIUS), the equivalent of Australia’s Foreign Investment Review Board (FIRB), and has now received all regulatory clearance and approvals required for completion.

The company has now received US HSR antitrust clearance and regulatory approval from the European Commission, the Competition Bureau in Canada and the Competition Commission in South Africa.

Despite the strong start to the year, I’m not sure the 1.59% dividend yield nor the 31.5x P/E multiple exactly screams ‘Buy’ to me, with these top growth shares looking like smarter investments at present.
The company anticipates the Jacobs ECR acquisition will occur by the end of April 2019 and expects to realise significant upside through cost and revenue synergies following completion.

*What else did WorleyParsons announce?*
The engineering group was awarded a significant project management contract (PMC) in the United Arab Emirates (UAE) which it announced to the market after yesterday’s close.

Borouge, a joint venture (JV) between Abu Dhabi National Oil Company (ADNOC) and Borealis AS, awarded WorleyParsons the PMC for its Ruwais petrochemicals complex in the UAE.

Under the contract, WorleyParsons will provide PMC services to the fourth phase of the petrochemicals complex which will include the world’s largest mixed feed cracker with an estimated 1.8 million tonnes per annum of ethylene output. The complex will have a production capacity of 3.3 million tonnes per annum of olefins and aromatics using a variety of feedstocks from ADNOC’s refining and gas processing facilities.

*Is WorleyParsons in the buy zone?*
The WorleyParsons share price has rocketed 27% higher so far this year and recently announced a half-year underlying net profit after tax (NPAT) of $98.4 million, up 25.8% on the prior corresponding period (pcp).

The group’s share price plummeted 41.4% in Q4 2018 to close out the year at just $11.42 per share in line with fellow engineering, procurement and construction (EPC) providers *Seven Group Holdings Ltd * (ASX: SVW) and *Emeco Holdings Ltd * (ASX: EHL).


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## bigdog (25 April 2019)

Worley Parsons is included in My April and my 2019 Year tip competitions

Motley fool reports 

https://www.fool.com.au/2019/04/23/worleyparsons-reveals-radical-plan-to-send-business-higher/

*WorleyParsons reveals radical plan to send business higher*
Lachlan Hall | April 23, 2019

The *WorleyParsons Limited* (ASX: WOR) share price could move today after an announcement regarding its acquisition of Jacobs’ ECR division and a proposed name change for the new entity.

*What’s happening with the Jacobs ECR acquisition?*
WorleyParsons announced that subject to the satisfaction of the remaining conditions to completion, it anticipates that the completion of the Jacobs ECR division acquisition will occur after the market closes over the last weekend of April 2019.

On completion of the transaction, WorleyParsons will employ approximately 57,600 people in 51 countries, providing “global sector leadership” across hydrocarbons, chemicals, minerals and metals which it believes will bring significant value upside through cost and revenue synergies.

*Did someone say name change?*
That’s right – the company also announced that following the completion of the Jacobs ECR transaction it will adopt ‘Worley’ as its new brand with the domain name Worley.com.

The company said the new brand leverages the brand equity of its existing name, acknowledges Jacobs ECR’s heritage in its brand colour and style, as well as highlighting ‘energy, chemicals & resources’ in its tagline.

The company name will be changed to Worley Limited (subject to approval of members at the annual general meeting in October 2019).

*Should you buy WorleyParsons shares?*
While the WorleyParsons share price has had a strong start to the year, the stock plummeted 41.4% in Q4 2018 alone to close out the year at $11.42 per share. It was a similar story for fellow EPC rival *Emeco Holdings Limited * (ASX: EHL) which saw its share price plummet 45.3% over the same 3 month period, while the *Seven Group Holdings Limited *(ASX: SVW) share price finished the quarter 31% lower.

WorleyParsons’ 1.59% dividend yield is lower than its rivals but the stock is trading at a P/E ratio of 28.5x compared to the comparably-sized Seven Group (15.1x), while Emeco, with a market cap of $707.8 million, trades on a P/E multiple of 101.8x.

============================================================
The share price did increase 1.20% to $15.15 on Wednesday April 24


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## bigdog (16 October 2019)

ASX announcement today
*16/10/2019 9:59:40 AM  Media today*

Shares in Worley received an extra boost after it confirmed media reports that Worley had written to the Foreign Investment Review Board (FIRB) to oppose Dar Group’s application to increase its stake in Worley.

Dar holds a 20% stake in Worley and has the right to lift it to 23% via an equity swap. Dar, which is a Dubai-based contractor, requires FIRB approval to lift its shareholding in the ASX-listed entity.






*Share price as at 1:04 PM*
12 month high is $18.50 and 12 month low is $10.72


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## System (29 October 2019)

On October 29th, 2019, WorleyParsons Limited changed its name to Worley Limited.


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## peter2 (29 November 2019)

WOR has had a bullish week with price closing above the resistance at 14.50. The volume was higher than average and there's two HLs on the weekly chart. The initial target is 16.00, then 19.50.
We'll look back at this chart in a few months to see if this is the start of a price swing higher.


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## bigdog (18 December 2019)

https://www.abc.net.au/news/2019-12-18/dar-worley-takeover-mired-in-political-intrigue/11802584

Very interesting long article about potential for Dar group takeover of Worley which is the largest shareholder with 23% and has gradually increased its shareholding through a practice known as "creep"


*Spies, politicians and allegations of corruption: Inside the bitter corporate war between engineering giant Worley and Dubai's Dar Group*
By Stephen Long, exclusive
Updated about 2 hours ago

Early in 2019, then-defence minister Christopher Pyne received a phone call from Khalid Al-Falih, who was the Saudi energy minister. What he was told in that conversation was staggering.

Mr Al-Falih said his government believed the biggest shareholder in giant Australian engineering firm Worley Parsons was "engaged in bribery and corruption".

That shareholder is Dar Group, an engineering, design and architecture conglomerate born in Beirut, based in Dubai.

Welcome to the extraordinary story of Worley and Dar: a cloak and dagger tale involving political intrigue, astonishing claims and a major Australian company at war with its largest shareholder.

Add to the mix Liberal Party luminaries in the various company camps — ex-NSW premier Nick Greiner and former federal minister Christopher Pyne among them.

Then throw in approaches to the highest ranks of the intelligence community, such as ex-ASIO boss Dennis Richardson and Australia's top intelligence official Nick Warner.

Here's the question: is the allegation made against Dar Group true, or simply part of a campaign to protect Worley from a company takeover?

The story of Worley and Dar is, at heart, a battle for corporate control.

But the way it's being waged gives a fascinating insight into the business of politics, the politics of business, and the shadowy world of political lobbying.

"Welcome to the extraordinary story of Worley and Dar: a cloak and dagger tale involving political intrigue, astonishing claims and a major Australian company at war with its largest shareholder."

TO READ ON use the link above

I Hold

946


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## bigdog (3 February 2020)

Worley was the worst performer on the S&P/ASX 200 index today and down as much as 10% to $13.71.

Down due to weakness in the energy sector and the announcement today of the retirement of its chief executive officer and managing director, Andrew Wood and appointment of Chris Ashton to the top job, effective February 24 (20+ years with Worley)


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## bigdog (24 February 2020)

Worley ASX announcement just now

24/02/2020 10:05:46 AM  Half Year 2020 Result  






The market did not like announcement






992


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## Trav. (3 June 2020)

Chart for WOR below

- Nice recovery since March
- Pull back detected and looks to be continuing up
- Closed @ $9 and near high which is a good sign
- How long until it fills the gap ? we will have to wait and see.


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## Trav. (15 November 2020)

WOR popped up on a daily scan and I noticed that it still hasn't closed the gap ( see post above ) but is getting closer, it had a really big week up 17% with no announcements so we will have to wait and see if it can continue this great run.

Friday 13/11 close


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## Trav. (17 November 2020)

I had an order in yesterday for some WOR and then as you know the ASX shutdown.

Open up today with a bang....oh well you win some and you lose some - GAP CLOSED


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## Trav. (24 December 2020)

Trialing some new software and I still have my training wheels on so bear with me as I post a few charts and hopefully I can get 1 or 2 predictions correct

OK so, I am back looking at WOR as it came up in the scan.

Weekly chart below and it looks like wave 3 is complete and the SP is marching back down to wave 4. I have drawn a rectangle in red to mark the pivot point...we will see how close we get.


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## rnr (25 December 2020)

Trav. said:


> Trialing some new software and I still have my training wheels on so bear with me as I post a few charts and hopefully I can get 1 or 2 predictions correct
> 
> OK so, I am back looking at WOR as it came up in the scan.
> 
> ...



Once again @Trav. a very interesting chart, especially the introduction of time line.
I get the impression that price will move in the direction of a wave 5 very soon.

Cheers, Rob


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## divs4ever (15 December 2021)

WORLEY LIMITED (WORLEY) (ASX: WOR)

 Drax awards a services contract for carbon capture project Drax Group (Drax) has awarded Worley a services contract for the first two carbon capture units at its power station in North Yorkshire, UK. The two carbon capture units are expected to capture approximately eight million tonnes of carbon dioxide a year, strengthening Drax’s purpose to enable a zero carbon, lower cost energy future.
 The carbon capture units will be integrated into two of the four existing biomass power generating units, which have a total capacity of 2,580 MW.
 The carbon capture units will incorporate Drax’s negativeemissions technology known as Bioenergy with Carbon Capture and Storage (BECCS). BECCS combines renewable electricity generated from biomass and carbon capture storage to permanently remove carbon dioxide from the atmosphere. BECCS has been successfully piloted by Drax.
 Under the contract, Worley will provide front-end engineering and design (FEED) services for the project. The services will be executed by Worley’s team in the UK.
 Upon final investment decision and selection by the UK’s Department of Business, Energy and Industrial Strategy (BEIS) for the project to progress, Drax and Worley are expected to negotiate the subsequent detailed engineering and build phases of the project. This services contract follows the pre-FEED phase of the project which was recently completed by Worley.
 Worley’s partnership with Drax is strategically significant and demonstrates how Worley is supporting our customers adapt and decarbonize existing assets. “As a global professional services company headquartered in Australia, we are pleased that Drax has engaged Worley in this important carbon capture project. Our partnership with Drax is one of the ways we’re helping our customers adapt existing assets and decarbonize industrial clusters, whilst also supporting Worley’s strategic focus on sustainability and delivering a more sustainable world,” said Chris Ashton, Chief Executive Officer of Worley. Authorized for release by Nuala O’Leary, Group Company Secretary. For further information, please contact: 

 DYOR

 i hold WOR


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## divs4ever (21 December 2021)

Worley awarded a services contract by Imperial Oil
Worley has been awarded a module fabrication and field construction services contract in Alberta, Canada
by Imperial Oil Resources Limited (Imperial) for the in-pit tailings infrastructure project at the Kearl Oil
Sands operation.
Under the contract, the WorleyCord team will execute the module fabrication and assembly of the
project’s first two phases at WorleyCord’s Edmonton modularization yard with field execution at the
project site in the Fort McMurray area. Robotic welding will be used in the fabrication and HoloLensTM
technology will be used to enhance health and safety outcomes by facilitating virtual site visits.
“Having worked together for more than 30 years, we are pleased to continue providing Imperial with
integrated solutions on this large fabrication and construction project,” said Chris Ashton, Chief Executive
Officer of Worley.
Authorized for release by Nuala O’Leary, Group Company Secretary.

DYOR

==============================================================================

i hold WOR


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## Dona Ferentes (2 June 2022)

WOR hasn't been to $15 since Covid slowed things down.

Sustained oil and especially gas prices should see more of an uptick in work, and of course there's the arcane science (and effort) that is carbon capture.


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