Seymour Whyte : SWL Half Yearly Report and Accounts

ACN 105 493 203

1. The information contained in this report is for the half-year ended 31 December 2016 and the previous corresponding half-year period 31 December 2015.

2. Results for announcement to the market $A'000

   Revenue from ordinary activities	Up	39.92%	to	232,838
   Net profit attributable to shareholders	Up	90.61%	to	406

   Interim dividend

   Interim dividend amount per security	-
   Previous corresponding period (1H 16)	1.75 cents
   Franked amount per security	N/A

   The Directors have elected to not declare a dividend for the interim period.

   Brief explanation of the results reported above:

   Group revenue of $232.8 million was driven by high levels of ongoing infrastructure activity in New South Wales with revenue surpassing Queensland's contribution for the first time.

   Profitability was impacted by significant investment in sustainable growth and the ongoing impact of legacy projects. The two problematic projects continuing into the current year were completed by December 2016, with one successfully recovering to a positive margin position.

   In addition to the ongoing investment in tendering, profitability was affected by a negative margin project identified during the period in the utilities division.

   The Group's financial position remains strong with a significant portion of assets held as unrestricted cash reserves of more than $40 million at the balance date.

   Net tangible assets of $49.8 million represent a net tangible asset backing of 56.6 cents per share relatively unchanged since the prior corresponding period.

   Further details of the Group's results for the half-year period including the Consolidated Statement of Profit and Loss and Other Comprehensive Income, Consolidated Statement of Financial Position, Consolidated Statement of Cash Flows and Consolidated Statement of Changes in Equity are included in the Consolidated Interim Financial Report as lodged immediately following this announcement.

3. Net tangible asset backing per ordinary share

   Current period 56.6 cents

   Previous corresponding period 56.9 cents

4. Details of entities over which control has been gained or lost

   There was no gain or loss of control on entities during the half-year.

5. Dividend payment information

   There were no dividends paid or declared during the period.

   ACN 105 493 203

6. Dividend reinvestment plan

   The company has established a Dividend Reinvestment Plan (DRP) effective from 28 July 2013 for which the shareholders participation is voluntary. Shares issued under the DRP are fully paid and rank equally with the existing fully paid ordinary shares.

   No shares were issued under the DRP in the current or prior year.

7. Detail of associates and joint ventures

   The company has interests in a number of joint ventures which are disclosed in Note 14 of the half year financial report.

   The company's interest in associates relates to a 50% investment in SWS Plant Pty Ltd.

8. All operations of Seymour Whyte Limited and its subsidiaries are domiciled in Australia. Australian Accounting Standards are used to compile the financial report.

9. The half year financial report has been reviewed and the independent auditor's review report is not subject to a modified opinion, emphasis of matter or other matter paragraph.

John Kirkwood

Managing Director and CEO 27 February 2017

Contents of the Consolidated Interim Financial Report

Page

Directors' Report 2

Auditor's Independence Declaration 5

Consolidated Interim Financial Report

Consolidated Interim Statement of Profit & Loss and Other Comprehensive Income 6

Consolidated Interim Statement of Financial Position 7

Consolidated Interim Statement of Changes in Equity 8

Consolidated Interim Statement of Cash Flows 9

Notes to the Consolidated Interim Financial Report 10

Directors' Declaration 17

Independent Auditor's Review Report 18

Corporate Directory 20

This interim consolidated financial report does not include all the notes of the type normally included in an annual financial report. Accordingly, this report should be read in conjunction with the annual financial report for the year ended 30 June 2016 and any public announcements made by Seymour Whyte Limited during the interim reporting period in accordance with continuous disclosure requirements of the Corporations Act 2001.

General Information

This interim financial report covers Seymour Whyte Limited as a consolidated entity consisting of Seymour Whyte Limited and the subsidiaries it controlled at the end of, or during the half-year ended 31 December 2016.

Seymour Whyte Limited is a listed company limited by shares, incorporated and domiciled in Australia. The registered office and principal place of business is:

Brisbane Technology Park 12 Electronics Street Eight Mile Plains Qld 4113

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