Worley lifts profit but margins squeezed

Engineering company WorleyParsons' first-half profit is up 18 per cent due to growth in resources sectors in Australia, Canada, China and the United States.

WorleyParsons posted a net profit of $152 million for the six months to December 31, 2011, up from $128.6 million in the previous corresponding period.

Chief executive John Grill said strong spending by the company's major customers underpinned growth in WorleyParsons' key markets of hydrocarbons and minerals and metals.

Smaller customers in both sectors were experiencing project delays due to the tightening of available funds, however.


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