Downer EDI posts 29.8% profit increase in HY to $98m
Make us a preferred source
Make us a preferred source on Google
The news: Engineering and services contractor Downer EDI reported a 29.8% increase in half-year statutory net profit after tax to $98 million.
The numbers: Half-year statutory revenue was down 6.9% to $4.86 billion, compared to $5.22 billion a year earlier.
Underlying earnings before interest and tax was up 11.2% to $227.1 million, while operating cashflow rose 6.4% to $311.5 million.
The company declared an interim dividend of 12.9 cents per share, up from 10.8 cents a year prior.
The context: Downer EDI CEO Peter Tompkins said the results were driven by improved financial performance and Downer’s simplification strategy.
The company forecast its FY26 underlying revenue to be slightly lower year-on-year, and net profit after tax to be in the range of $295 million and $315 million.
The source: ASX
