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Downer EDI Limited’s (ASX:DOW) earnings will be impacted by its settlement of a legal dispute that related to a tunnel contract in Singapore.
The engineering firm has agreed to pay about $40 million as part of a settlement of the matter that commenced in 2009.
Downer says full year earnings before interest and tax will be reduced, however underlying earnings before interest and tax remains unchanged and expects it to generate about $370 million for the full year.
Downer reported a full year net profit of $113 million in the 2012 financial year.
News: Downer EDI lowers FY earnings target
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$5.76 |
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