Ausgroup Interim Results

AusGroup Delivers Record Interim Profit of AUD$12.1 Million

Profit After Taxation jumped 47% to AUD$12.1 million while revenue increased 60.4% to AUD$202.2 million

Estimated AUD$145 billion worth of expansion and development projects in Western Australia, which AusGroup is well positioned to explore

Strong order book of AUD$208 million as at 30 Jan 2008 fuels optimism for FY2008

SINGAPORE – 14 February 2008 – AusGroup Limited (“AGL” or “AusGroup” or “the Group”), a multi-disciplinary engineering service provider for the oil & gas and resource mining sectors in Australia, has announced robust growth in profitability on the back of strong demand for its services in Australia and Singapore.

Profit after taxation jumped 47% to AUD$12.1 million while revenue increased 60.4% to AUD$202.2 million. Earnings per share improved to AUD 3.1 cents, compared to AUD 2.1 cents in the previous corresponding period.

Financial Highlights
AUD$’000 HY2008 HY2007 Change (%)
Revenue 202,217 126,087 60.4
Gross Profit 31,779 21,563 47.4
Profit before taxation 16,742 11,583 44.5
Profit after taxation 12,119 8,246 47.0
Earnings Per Share* AUD 3.1 cents AUD 2.1 cents 47.6

*Earnings Per Share is calculated using weighted average number of shares. The weighted average number of shares for HY2008 is 393,955,000 shares while weighted average number of shares for HY2007 is 385,961,000 shares