I am also at a loss as to why this jump has occurred. I have been patiently waiting to get back into Worley since last April and this has caught me by surprise. However, still not convinced we have turned the corner yet.
It would be nice to know how much Bul Hanine will bring in. Anyone got any ideas? Even so, we may not see Bul Hanine figures affecting the P&L for awhile.
Sure, nice to see oil heading up, but this does not equate to project wins.
Yes, Worley have been cost cutting, but my spreadsheets indicate another very lean YTD2016 with drops in revenue and net profit. If they do find $180 million in cost cutting then net profit could increase, but it will be minimal. I need to point out that I added back in the 2015 impairment write offs and the 2016 mid year one offs.
In any case well done to you guys who got in early.
I am also at a loss as to why this jump has occurred. I have...
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