Downer EDI (ASX:DOW) revises its NPATA guidance for the year

Company News

by Rachael Jones

Downer EDI (ASX:DOW) announced today that its NPATA guidance for the 2020 financial year had been revised down to $300 million.

The revision is to reflect project underperformance in Engineering, Construction and Maintenance with increased the forecast net costs by $43 million.

Meanwhile, Downer EDI announced today that it had been awarded a five-year contract, valued at approximately $600 million, to provide mining and related services at the Meandu Mine in Queensland.

Shares in Downer EDI (ASX:DOW) are trading 22.1 per cent lower at $6.82.