Engineering group Downer EDI is warning of further hits to come as belt tightening in the mining sector contributed to a three per cent fall in annual profit.

Downer made a net profit $210 million in the year to June 30, and expects that to fall to around $190 million in 2015/16.  Its shares plunged 11.35 per cent, losing 52 cents to $4.06. “It looks like the markets have viewed it as a downer,” OptionsXpress market analyst Ben…