Hi wrongway Find a copy of an old email to CLO ,sorry it is...

Hi wrongway
Find a copy of an old email to CLO ,
sorry it is straight from my files have not got time to clean it up




From:
To: Durham
Subject: Re: Clough query
Date: Monday, 16 September 2002 9:40 AM


See below for comments. Sorry for the delay but we were travelling last
week over east.

Peter



"Durham"

m.au> cc:
Subject: Clough query
11/09/2002 11:42
AM







Attention Mr Peter Collins



As shareholder of Clough I am interested as to how the company is
progressing with these two problem contracts,
 and as to what  the Dollar  value of these contracts in question will be
.

THE CLAIMS PROCESS CONTINUES ON BOTH. WE ARE STILL HOPEFUL OF GETTING
BETWEEN A$5-8 MILLION DOLLARS BACK ON THESE THAT WILL GO STRAIGHT TO THE
BOTTOM LINE FOR THIS CURRENT YEAR'S RESULT.



Excerpt from news clips I have found on the Internet
________________________________________________________________________


 Problems with two contracts were the main drivers of the underlying
result. Management,
however, are more optimistic about the second half on the basis that the
performance of the two contracts will improve

***************************************
Clough profit was affected by two contracts that are now finished and
Clough expect to recover the monies in this financial year which will be
booked as profit
**************************************

Work on the two problem contracts, which were mentioned with thehalf-year
result, has now been essentially completed.
 Financial negotiations are proceeding and no recoveries are included in
the year-end forecast.
########

Clough is forecasting substantial growth in financial year 2002-03 with
revenue forecast to exceed the billion-dollar mark
 for the first  time in the Company's history.




Have also read that improved earnings are forecast for the later part of
02,03 based on present contracts in hand ,is this still on track and do you
expect to add to this work list as other tenders are accepted .

YES, WE ARE ON TRACK FOR A BILLION DOLLAR YEAR IN REVENUE TERMS. MORE WORK
IS ALSO BEING ADDED TO OUR WORK IN HAND AS WE GO.

Thank you for your reply

Arthur XXXXXX








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