May 14, 2020 / 2:05 PM / 14 days ago

BRIEF-Aveng Says Revenue, Margin Impacts Of Coronavirus Across All Businesses

May 14 (Reuters) - Aveng Ltd:

* AVENG LTD - CONTINUES TO PURSUE IDENTIFIED OPPORTUNITIES TO GROW ITS ORDER BOOK IN CORE BUSINESSES OF MCCONNELL DOWELL AND MOOLMANS

* AVENG LTD - SEVERAL COST SAVING MEASURES HAVE BEEN AND WILL CONTINUE TO BE IMPLEMENTED ACROSS GROUP TO COMBAT EFFECT OF PANDEMIC

* AVENG - REVENUE, PRODUCTIVITY, MARGIN AND CASH FLOW IMPACTS OF CORONAVIRUS ACROSS ALL BUSINESSES IN GROUP

* AVENG LTD - SIGNIFICANT PROGRESS HAS BEEN MADE IN RESOLUTION OF LEGACY CLAIMS WITHIN MCCONNELL DOWELL

* AVENG LTD - SETTLEMENTS HAVE BEEN CONCLUDED ON TWO LONG-STANDING CLAIMS

* AVENG LTD - SETTLEMENTS WILL RELEASE AUD 41.5 MILLION IN CASH IN SHORT TERM, REDUCE ONGOING LEGAL COSTS, REMOVE LITIGATION UNCERTAINTY

* AVENG LTD - ASSOCIATED NON-CASH IMPAIRMENT OF AUD 19 MILLION

* AVENG - NOT POSSIBLE TO PROVIDE ACCURATE ASSESSMENT OF IMPACT OF CURRENT ENVIRONMENT ON FINANCIAL PERFORMANCE AT THIS STAGE Source text for Eikon: Further company coverage:

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