Downer EDI Meets FY Profit Guidance

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Friday, August 5th, 2016
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Engineering group Downer EDI has met its full year guidance despite reporting a 14.1 per cent drop in full-year profit to $180.6 million.

Revenue fell 0.5 per cent to $7.39 billion and the bottom line was weighed down by a $13 million write-off related to an unsuccessful bid for Capital Metro and $15 million reduction in federal government grant income.

“Over 55 per cent of group revenues are generated from servicing public infrastructure customers in Australia and New Zealand – and this percentage will rise,” chief executive Grant Fenn said, targeting a $170 million profit for FY17.

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