Downer EDI make a come back with $141.4m interim net profit

Company News

by Rachael Jones

Services company Downer EDI (ASX:DOW) released its results for the half year ending 31 December 2018 showing an statutory net profit after tax (NPAT) of $141.4 million.

This beats Citi's expectations of $124 million for the six months.

It's a big swing from last year's results which showed a $15.9 million loss.

It's total revenue including joint ventures and other income of $6.6 billion was up 8.6 per cent and earnings before interest and tax of $236.6 million, is up from $52.3 million on the prior corresponding period.

It's dividend per share is 14.0 cents up from 13.0 cents in the same period.

On Wednesday the company announced that the NSW government had ordered 17 moreof its Waratah trains in a $900 million contract.

Shares in Downer EDI (ASX:DOW) trading 1.19 per cent lower at $7.47.
 

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.