Downer EDI Limited
(ASX:DOW) says net profit fell 2.7 per cent to $210.2 million and it expects 2016 revenue to be lower.
The mining contractor expects net profit for 2016 to be around $190 million due to the downturn in the resources sector.
Earnings slipped 28 per cent thanks to losses in its consultancy business and underperformance of projects in Western Australia.
Downer also warned that if it does not win a tender to build Canberra’s light rail system that would hurt its 2016 results further.
Downer EDI declared a final dividend of 12 cents fully-franked.
