Trading Room home page

Downer EDI lifts first half profit

Market watch top headlines

Australian reports

World reports

Stocks to watch



February 14 2013, 08:26AM

"Each of our three divisions achieved substantial revenue growth, underlying EBIT (earnings before interest and tax) has grown over 12 per cent and our cash performance was strong once again," Mr Fenn said in a statement.

"We have continued to build momentum in our operational and financial performance."

Downer EDI operates business in infrastructure, mining and rail.

The company is manufacturing new trains for Sydney's rail network, known as Waratah Trains.

After many problems and delays, production was now at the required rate to complete the project on time, Mr Fenn said.

"We remain on track to deliver the 78th Waratah train in mid-2014," he said.

The company declared an interim dividend of 10 cents per share, 70 per cent franked.

Downer EDI did not pay an interim dividend last year.