Worley Parsons in Australia fell -25% on warning this morning. The reason being a, “delay in upturn in markets.” “The decline in the Australian business has been greater than expected, as hydrocarbons projects in northern Australia move into the final construction and delivery phase and the minerals and metals business remains weak,”
With exposure to both oil service and Australia, this is not the time to re-enter SGS (or Intertek, see yesterday’s for more).
Avoid both for now.
