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Restatement of Operating Segment Information

 10-February-2017
Figure

ASX release

Effective 1 July 2016, WorleyParsons operations have been managed and reported through the following business lines: Services, Major Projects & Integrated Solutions and Advisian.

Services

To remove duplication of engineering activities and to provide single points of contact to our customers, Improve engineering only relationships and businesses have been moved into the Services business line.

Major Projects and Integrated Solutions

Improve integrated services relationships and opportunities became part of the Major Projects & Integrated Solutions Business Line, including operations and maintenance and full delivery engineer, procure and construction (EPC) relationships.

The Group has created a central Global Sales and Marketing function. Personnel conducting business development previously as part of the Major Projects business line are now included within Global Support.

In addition, the Group has redefined aggregated revenue to exclude pass-through revenue at nil margin.

The previously reported segment results for the half year to 31 December 2015 and full year to 30 June 2016 have been restated to be comparable with the revised segmentation approach as required by AASB 8 Operating Segments

The restated 31 December 2015 and 30 June 2016 operating segment information by business lines and sector as a result of the aforementioned changes are outlined in Tables 1 and 2 and Tables 3 and 4 respectively.

Total EBIT for the Group and profit after income tax expense per the Statement of Financial Performance remain unchanged.

 

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