Opus International Consultants has reported a first half net loss of $23 million, hit by difficult conditions in Canada and Australia, along with weaker margins in New Zealand.
The engineering and infrastructure consultancy firm's net loss in the six months ended in June compares with a profit of $15.9 million in the year earlier period, while the underlying profit declined 79 percent to $2.5 million.
The company's revenues fell 7.1 percent to $237.8 million, reflecting a 28 percent fall in Canada's revenue, a 3 percent decline in Australia's and a 4 percent fall in New Zealand.
Despite the challenges, the company said its cash position was strong with operating cash ahead of last year, which means it can still pay a 2 cent a share interim dividend in September.
Opus's share price has fallen more than 9 percent, or by 11 cents, to $1.05 per share.