Downer EDI lifts first half profit
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Engineering firm Downer EDI's first half profit has grown by 11 per cent and the company has maintained its expectation of improved underlying profit for the full year.
Downer EDI made a net profit of $94 million in the six months to December 31, up from $84.9 million in the previous corresponding period.
Revenue in the six months to December of $4.4 billion was up 18 per cent from $3.71 billion in the same period in the previous year.
The company re-affirmed its forecast for an underlying net profit of around $210 million in the 2012/13 financial year, after it rose by 24 per cent in the first half to $105.5 million.
Chief executive Grant Fenn said the results showed an improved performance from all areas of Downer EDI's business.