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1.Market Observations, 5.Troubled companies

21 Nov 2013 (TheAge) – WorleyParsons shares slump 26% after profit downgrade

(21 Nov 2013, The Age, BusinessDay, p25, Brian Robins)

‘Shares in global consulting engineer WorleyParsons slumped to post-GFC lows on Wednesday, following a severe profit downgrade – just weeks after it told shareholders it was upbeat on its prospects for the year ahead. The warning by the one-time market darling triggered selling across the engineering services sector, with stocks from UGL to Monadelphous sold amid deepening gloom over a lacklustre recovery for the sector as mining and gas capital spending slows.’


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