MARKET TALK: Hopes Multiplex Wembley Woes Done 01/05/06 11:55:00
1155 [Dow Jones] Multiplex (MXG.AU) up 9 cents or 2.9% at A$3.15 after
monthly Wembley update reiterates substantial completion of stadium expected by
June, and provides no further downgrade to earnings forecasts, potentially
suggesting it may be able to rule off current Wembley losses of over A$400
million. MXG still hopeful of recovering up to A$91 million from action against
previous steel contractor CBUK, currently underway in U.K. courts. MXG notes
total Wembley completion, opening and first event is matter for client, which
will have cleaning, commissioning and other work to do through until September.
(WEL)
Contact us in Sydney. 61 2 8235 2950;
[email protected]
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MXG
multiplex group
