United Group grows orderbook to $4.6bn on rolling stock orders

<p>Engineering firm United Group Ltd (UGL) grew its a $4.3bn orderbook to $4.6bn in four months on Western Australian demand for locomotives and wagons, managing director Richard Leupen said yesterday (Thursday, Octovber 12) at its annual general meeting in Sydney.</p> <p>Chairman Trevor Rowe said the company had achieved its fifth consecutive year of profit growth and net profits after tax had risen 66% to $79m on the previous financial year.</p> <p>The company pinned its future growth rate to its diversification strategy and overseas business including the purchase of US property concern Equis Corp.</p> <p>&#8220We have strong market positions in our [core&#93 sectors of property, rail, transport, water, power, resources, communications and defence,&#8221 Mr Leupen said.</p> <p>&#8220These sectors are showing signs of growth as governments and blue chip customers upgrade and build new infrastructure and projects and continue to outsource&#8221 </p> <br />