A good article from The Motley Fool: "Don’t let Worleyparsons...

A good article from The Motley Fool:
"Don’t let Worleyparsons Limited’s rising share price fool you

"Shares of Worleyparsons Limited soared 5% after the company released its full-year results, but don’t let the market’s response fool you"

"It was a shocking year for Worleyparsons, plagued by a downturn in the global commodities market and nearly $200 million in write-downs."

"...an 8.6% decline in statutory revenues to $8.8 billion for the year ended 30 June 2015 and a statutory net loss of $54.9 million, down from a $249.1 million profit during the prior year. This included a non-cash impairment of goodwill of $198.6 million with underlying net profit after tax (NPAT) also coming in at $198.6 million – down 24.6% compared to the prior year."

"...investors ought to approach with extreme caution. With commodity prices tipped to fall even further, more projects are likely to be shelved or scrapped altogether which could have a negative impact on Worleyparsons."

http://www.fool.com.au/