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.

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.