Worley's resilient performance and strategic growth priorities

Worley Limited (ASX: $WOR) has reported a resilient performance for the half year ended 31 December 2023, with an underlying profit after income tax expense of $155 million, representing an increase of $37 million compared to the corresponding period. The statutory profit after income tax expense attributable to members of the Company for the same period was $106 million, marking a significant improvement from the $99 million net loss after tax reported in the corresponding period. The Group's aggregated revenue also saw a notable increase, reaching $5,610 million, up by $408 million from the previous period. Worley's strategic growth priorities, focused on delivering a more sustainable world, are outlined in the Interim Financial Report 2024.

Executive commentary on performance and strategic focus

The Group's strategic growth priorities are centered around four sustainability pathways, namely Decarbonization, Resource Stewardship, Asset Sustainability, and Environment & Society. These pathways define Worley's sustainability opportunities and capabilities, aligning with the sectors it serves, including Energy, Chemicals, and Resources. The Group's commitment to delivering sustainable change is evident in its continued efforts to address climate change, maintain sustainable businesses, and create positive social and economic outcomes. Worley's ongoing assessment of recovery options for amounts owed, despite the write-off of the net exposure in relation to historic services provided in Ecuador, reflects its dedication to upholding its responsibilities and pursuing sustainable solutions at scale.

Outlook and future prospects

Worley's Interim Financial Report 2024 demonstrates its resilience and commitment to sustainable performance. The Group's ambitions and goals are underpinned by its strategic growth priorities, emphasizing the importance of decarbonization, resource stewardship, asset sustainability, and environmental and social responsibility. Despite the challenges related to historic services provided in Ecuador, Worley remains focused on delivering sustainable change and assessing recovery options. Looking ahead, the Group's dedication to providing engineering design and project delivery services, along with its strategic focus on sustainability, positions it well for future growth and continued contribution to a more sustainable world.