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Downer EDI: Service provider’s reversal of fortune – NEWS.com.au
Downer EDI goes from profit to loss as divisions give mixed results
Multi-pronged service provider Downer EDI has reported a reversal of fortune in its annual results, posting a $150 million net loss as it continues to adjust its mix of offerings.The result compares with a $261.8 million net profit last financial year and was driven by contract losses in its engineering, construction and maintenance services business as well as 367.2 million (pre-tax) worth of significant, or one-off, items.
The group’s facilities division suffered a 38.8 per cent plunge in ear…
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