// Our News // Media Releases
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9 March 2010) Coffey International Limited subsidiary, Coffey Projects, has recently delivered the National Centre of Indigenous Excellence (“NCIE”) in Sydney, Australia, which was officially opened on Friday (26 February) by The Hon. Kevin Rudd, MP, Prime Minister of Australia.
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3 March 2010) Global professional services consultancy Coffey International Limited ((ASX:COF) (“Coffey”)) today announced it has acquired 100 per cent of Global Justice Systems (GJS), based in Australia and the United Kingdom (UK), and Libra Advisory Group Limited, a UK-based consultancy.
1. Overview
- Solid performance, particularly in light of a record prior half and against unfavourable foreign exchange movements
- Without adverse foreign exchange movement, Operating EBITDA would have been in line with corresponding period
- Operating EBITDA up $11.4 million (58%) on H2 FY09
- Achieved in excess of $20m annualised cost savings compared to December 2008
- Successful implementation of new organisational structure with minimum disruption
- Strong signs of a rebound in the Asia Pacific region
- Some impact from GFC particularly in Middle East and Brazil
- Total revenue down 3% to $404.3m
- Fee revenue down 7% to $241.0m
- Operating EBITDA* down 14% to $31.1m, impacted by foreign exchange
- Negative foreign exchange impact on EBITDA of $5.6m in H1 FY10 compared to H1FY09
- Operating EBITDA* (excluding foreign exchange impact) up 1.2% to $32.7m
- Working capital management continued to improve, down 12% to 66 days from June 09
- Net Debt reduced by $5.5m, down to $87.3m from June 09
- Net Debt / Capital ratio down 2% to 31% from June 09
- Fully franked interim dividend of 7.5 cents per share
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5 February 2010) Global professional services consultancy Coffey International Limited (“Coffey”) has been named one of the best professional services companies in Australia by Business Review Weekly (“BRW”). Coffey is a finalist for the best engineering consulting company (revenue over $200 million) for the upcoming 2010 BRW Client Choice Awards, announced by BRW earlier this week.
