The Underground Mining platform is operating in a buoyant market and is well positioned to achieve strong growth over the next few years. The Oil & Gas and Power & Water platforms continue to face challenging market conditions, with low levels of investment and new projects experiencing delays and deferrals. Globally, the oil and gas market is showing definite signs of recovery. Opportunities are being pursued in selective complementary market segments, which will mitigate the impact of down cycles in main market segments.
The Group is committed to drive sustainable growth and remains confident that its growth plans over the medium term are achievable, factoring in the constraints of current market dynamics.
Any forward-looking information contained in this announcement has not been reviewed and reported on by the Group’s external auditors.