DOW 0.88% $5.76 downer edi limited

News: UPDATE 1-Australia's Downer EDI lifts guidance as first-half beats expectations

  1. 68,069 Posts.
    lightbulb Created with Sketch. 460
    • Downer H1 net profit A$78 mln vs A$73 analysts
    • Targeting full-yr profit of A$175 mln vs A$160 analysts
    • Shares up 13 pct to 7-yr high

    (Adds shares, dividends, forecasts)

    SYDNEY, Feb 2 (Reuters) - Australian engineering contractor Downer EDI Ltd (DOW) on Thursday posted an 8.5 percent rise in interim net profit and upped its full-year guidance, sending its shares to a seven-year high.

    Net profit came in at A$78.2 million ($59.27 million) for the six months to Dec. 31, the company said in a statement, beating analyst forecasts of A$73 million.

    The company added that it is now targeting net profit of about A$175 million for the full financial year, a decline from the previous year's A$180 million result but better than the A$160 million forecast by analysts.

    Downer is Australia's biggest non-government builder of roads, and also does construction and transport engineering work for miners and other large industrial clients.

    The company's Sydney-listed shares were up 13 percent in early trading, hitting their highest intraday level since early 2010. The broader sharemarket was up 0.3 percent.

    Sales rose 2 percent in the half-year period. The company declared an interim dividend of A$0.12, in line with the same period a year earlier.

    ($1 = 1.3194 Australian dollars)

 
watchlist Created with Sketch. Add DOW (ASX) to my watchlist
(20min delay)
Last
$5.76
Change
0.050(0.88%)
Mkt cap ! $3.626B
Open High Low Value Volume
$5.75 $5.81 $5.69 $4.241M 737.5K

Buyers (Bids)

No. Vol. Price($)
2 11134 $5.73
 

Sellers (Offers)

Price($) Vol. No.
$5.76 9983 4
View Market Depth
Last trade - 16.10pm 07/11/2024 (20 minute delay) ?
DOW (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.