Shares in Australia’s WorleyParsons dropped as much as 13.4 per cent after the energy and resources services company swung to a loss in the first half of its financial year.

Revenue and other income for the half-year period fell 35 per cent to A$2.7bn ($2.1bn), contributing to a net loss after tax of A$2.4m compared to profit of A$23.1m a year earlier.

Much of that drop was the result of restructuring costs, which came to A$56.2m for the six months ended December. WorleyParsons also failed to pay any dividend for the period.

Shares had pared back losses to be down 9 per cent in mid-morning trade in Sydney.

Get alerts on Energy sector when a new story is published

Copyright The Financial Times Limited 2021. All rights reserved.
Reuse this content (opens in new window)

Comments have not been enabled for this article.

Follow the topics in this article