The Infrastructure & Environment sector reported aggregated revenue of $784 million, a decrease of 10% from the previous corresponding period. Infrastructure & Environment’s contribution to the Group’s aggregated revenue was 10%. Segment EBIT was $86 million with a reported segment margin of 11.0% (FY2012: EBIT $118 million; margin 13.6%).
The performance of the Infrastructure & Environment sector was adversely impacted by the downturn in the Australian resources sector and the South African government sector.
Given the adverse markets in Australia and South Africa, it is pleasing that we secured Improve opportunities with government, resource and energy customers. We have delivered environment and water services to unconventional oil and gas customers and expanded our geographic footprint by delivering restoration services under several global services agreements.
The growth of unconventional oil and gas globally offers significant opportunity as customers seek an integrated approach to environment, community and water management. Resource infrastructure has a strong outlook in Sub-Saharan Africa and Latin America, particularly relating to significant gas discoveries in East Africa and mineral developments in Latin America. Our Restoration offering is positioned to service our customers’ growing need for support in liability management and remediation, demolition and decommissioning and resilience preparedness across their asset portfolios.
We expect improved earnings in the Infrastructure & Environment sector in FY2014.
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