Downer EDI’s net profit dropped 61% to $71.4m

Company News

by Rachael Jones

Railway engineering company Downer EDI's (ASX:DOW) annual net profit dropped 61 per cent to $71.4 million from $181.5 million from the previous corresponding period.

Total revenue for the Group increased by $4.8 billion, or 61.5 per cent, to $12.6 billion.

They declared a 50 per cent franked final dividend of 14.0 cents per share.

Results are in part due to the costs associated with its takeover of services group called Spotless and write-downs of its mining business.

Shares in Downer EDI's (ASX:DOW) is trading 0.07 per cent lower to $7.51
 

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