Business
Why the Cimic Group (ASX:CIM) share price is plunging – The Motley Fool Australia
The Cimic (ASX:CIM) share price is falling hard today, currently down 16%. We take a look at the company’s full year results.
Cimic Group Ltd(ASX: CIM) shares fell hard on the opening bell after the company released its financial results for the full year ending 31 December. At the time of writing, the Cimic share price is trading at $21.70, down 16.04%.
What’s driving the Cimic share price lower?
The Cimic share price is taking a dive after the company reported statutory net profit after tax (NPAT) of $620 million for the full 2020 financial year. That compares to a loss of $1.4 billion for the 2019 financial year.
Underlying…
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