24 Aug 2011

Loss reported by Downer EDI

12:28 pm on 24 August 2011

Downer EDI has reported a net loss of $27.7 million for the June year, due to a pre-tax provision of $250 million for the Waratah train project and other impairments.

Excluding those items, the company's underlying profit fell 15.7%, to $166.4 million.

Revenue rose $15.2% to $7 billion with growth driven by the mining, rail and engineering businesses.

For the 2012 financial year, Downer expects to deliver a net profit of around $180 million.