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The First Human Clone -

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It's not a glamour It's not a glamour stock, a

market leader or one of those

shares that commentators like

to talk about every day, but

the United Group counts as one

of Australia's more substantial

companies and it's a company

that's managed to reinvent

itself over time since it

started up in the construction

business nearly 40 years ago.

Andrew Robertson with this

profile.It may not be a

the familiar name but because of

the range of industries in which it operates few

Australians escape using the

services and products of United

Group. We are very involved in

things, part of people's water

supply projects, their power

supply projects sh their

transport engineering. We run

Sydney Airport so we touch the Sydney Opera House, the

people's lives but they just

don't see us or know we're

there. United Group consists of

maintains four divisions. It builds and

maintains passenger and freight

trains in Australia and Asia,

it provides technology and

engineering services for the

mining industry, it builds

infrastructure for industries

such as water and electricity

and it maintains an manages

about half a billion properties in Australia and around the

world. We manage a third of the

city of Singapore, schools and

universities in Singapore, we

commercial manage large industrial and

commercial sites in the United States, we manage the

Australian embassies Arnold the

world. And investors seem

happy. Lateline Business spoke

to two of United Group's three biggest share horlsd an neither

had a bad word to saismt one of

them is managed funds group

Colonial First State which

likes yuted's increasing ri

lienction on sches

income. Diversification of

income streams is a good idea.

It spreads the risk It spreads the risk and allows

for growth in individual

sectors. As United has built

its business, revenue in the

last five years has tripled

from $723 million to $2.2

billion. Operating earnings

have increased nearly five fold

in the same period from $22

million to $106 million.

United's share price has had a United's share price has had a

similarly steler rise from

around 2 to 13 hnth 45 today,

but on a price earnings ratio

of 21, United Group's recent

success has raised expectations

among investors. Some people

say to me we're one of the most

expensive stocks around if our

growth doesn't skont. The

future, according to Richard

the Leupen is to continue building

the infrastructure and services

businesses which will insulate the company from any downturn

in the resources sector. Today

about 20 to 25% of our income

is derived from the resources

sector and I think if there was

a downturn, a reversal of what

we've just seen, we think it

might have about a 10% affect

on us but there's no sign of

that for at least three to nour

years that we can see. The

United Group now derives 80% United Group now derives 80% of

its revenue from service like

asmet maintenance which helps

it on blows like missing on the

contract to build 700 carriages

for the NSW rail network busmt

the expansion plan hz come with

chachblings. We've added $2

billion of turnover and 8,000

people to the company in six

years. To manage that is not to

be underestimated and I think

sit a primary threat we sit a primary threat we

face. If United can manage that

threat it will continue to

prove that operating an

unfashion aable industries can

be very rewarding. On the

foreign exchange market:

Now for a brief look at

tomorrow's business diary.

Before we go, a look at

business what's making news in the

business sections of our major

newspapers. 'The Age' says

Macquarie Bank could earn $400

million in fees if the private

equity bid for Qantas succeeds. The 'Australian' reports

Queensland gas appears to have

seen off an unwelcome takeover

from Santos after AGL took a

blocking stake. And the

'Australian Financial Review'

says the Macquarie says the Macquarie Bank backed

Sydney Airport corps rietion is

going to the High Court to make

it harder for airlines to

challenge its fees. And that's

all for tonight. As I leave you

the FTSE is up 7 and the Dow

futures are up 6. If you'd like

to review any part of tonight's

stories or earlier programs you

can visit our website.Bu we'd

also love to hear from you at

our email address on your screen. I'm Ali screen. I'm Ali Moore. Goodnight. Closed Captions by


Demanding 21st century policing. is to uphold law and order. The police's responsibility first time, every time. Our response has to be right our central priority And never lose sight of

and its people safe. of keeping the city

forget its impact on the victim. Whatever the crime, we must never We are the front line. against all criminals Providing protection and support terrorists, burglars, rapists, whether they be muggers, murderers,

robbers or fraudsters, racists, thugs, for them it's our job to make it harder to prey on the law-abiding public. This is what I believe in. that I became a police officer. And the reason to be the victim of crime. I also know what it's like (Child squeals) Get outta my face. Slow down. Don't get involved. Just calm... Easy! Seriously, don't get involved. ECHOING CHILD SCREAMS For Godsake. (Terrified cries)

Let go of her! She stays. I'm gonna shoot you, man. WOMAN: Charlotte! Charlotte!

Thank you. MAN: Well done, mate.

It's OK, baby.

Daddy's OK. Sun Hill Police Station When I came to drug-related crime and gang warfare

on some of our estates. was out of control

what was our last location... Sierra One, Standby, One. We're under attack. WOMAN: Urgent assistance required. About 20 or so youths. Stop them! Aright, madam, leave it to us. They're robbing my neighbours. YOUTHS SHOUT Get going!

You alright, Sarge? Get around the back. I'll flush them out. Oi! Gemma, get in! SIREN BLARES Look out. Watch your back! Put it down! What? Stop! Get over there!

Urgent assistance! Urgent assistance! No, Cass. Stay back! TYRES SKID Ugh! You're not going to do anything, are you? There was no strategy and the Bronte estate had become a police no-go area controlled by gangs. There were revenge kidnappings, and the press were baying for our blood. What's going on? There's been a battle on the Bronte estate. Reload's younger brother has been kidnapped. Obviously tit for tat.

The Detroits must think that Reload had something to do with yesterday's stop and search. The press want a reaction. I want you and Gina here while I make a statement. Ladies and gentlemen, if you will move back, please. Thank you. Now, my name is Adam Okaro. I had to find out why our policing had failed so badly. So the press is right? We're making it look like a no-go zone. You read that, did you? Hard to miss on the front page. They sensationalise as usual. Understandably - when we've got kidnap attempts and guns in our local schools. In my daughter's school. It has all just hotted up in the last 24 hours. Why? We needed information... I sent my officers out to gather intelligence about the gangs. Who were the other people in the car? No comment. Who was driving? No comment. Why were you there? No comment. And whose drugs were they? No comment. Police don't police that estate.

You have no idea what's going on down there. So tell us.

My station's popular, yeah? So they use it. They set the rules on the Bronte. The rest of us just obey them. Or? They've got serious hardware. Guns? Yeah. Two points. So it's all dead on the Bronte. Detroits is moving out and suddenly it all kicks off again. What does?