Wilson Bayly Holmes-Ovcon Ltd. provided consolidated earnings guidance for the six months ended December 31, 2014. The directors of the company announced that, in respect of the unaudited consolidated results for the six months ended December 31, 2014, total earnings per share (ie continuing and discontinued operations) will increase by up to 5% (548 to 576 cents per share) in relation to the comparative period (548 cents per share), while headline earnings per share for same period will decrease by between 5% and 10% (528 to 557 cents per share) in relation to the comparative period (586 cents per share). The results in respect of the comparative period, being the six months to December 31, 2013, are to be restated in accordance with International Financial Reporting Standards (IFRS) in order to disclose the results from the discontinued operations reported upon at June 30, 2014 as well as a further business from within the construction materials segment which has met the requirements for classification as a discontinued operation in the current six months.

As a result of the restatement, earnings per share in respect of continuing operations is expected to decrease by between 10% and 15% (547 to 579 cents per share) in relation to the restated comparative period (644 cents per share), while headline earnings per share in respect of continuing operations is expected to decrease by between 15% and 20% (519 to 552 cents per share) in relation to the restated comparative period (649 cents per share). The reasons for the decrease in earnings for the six months to December 31, 2014 relate predominantly to poor performances from both Australian civil businesses, namely WBHO Civil and Probuild Civil, as a result of three material loss-making projects.