Aus Group

Aus Group: 4Q Rev at A$148.3m at 20.3% yoy -4.3% qoq with a net profit of A$4.4m compared to loss of A$5.3m prev yr and +50.7% qoq. FY rev at 602.0m was a 64.2% improvement yoy and over 4 fold yoy. Better earnings for the quarter were due to gross margins rising to 12.4% from low base of 8.4% in 3Q11. Co expects higher level of demand for its Western Australia operations and has seen tendered margins improving driven by demand for commodities. Losses on two existing construction projects are expected to be concluded by nxt quarter. Co has current order book of A$246m and is positive over nxt 12 mths but has guided for reduced rev lvls nxt quarter due to timing of project start ups. A final dividend of 0.64c has been declared