AusGroup reports A$69m Q2 loss, MD resigns
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Singapore
OVER the weekend, AusGroup announced the resignation of its managing director, Gerard Hutchinson, as well as its A$69.43 million (S$68.97 million) net loss for the second quarter ended Dec 31, 2015.
The oil and gas and mining engineering company had on Friday warned of a net loss, due in part to continued delay in the commercialisation of the port and marine business, and a worse-than-anticipated pullback in capital expenditure in the oil and gas industry.
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