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
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.