News: Downer EDI signs Foxtel contract

.

Downer EDI (ASX:DOW) has extended its relationship with Foxtel by signing a four-year contract with the pay TV provider.



The $200 million deal will see Downer EDI provide installation and maintenance services for its cable and satellite customers in Adelaide, Sydney, Melbourne and Brisbane.



The contract will start on September 1.



Foxtel’s chief executive Kim Williams said Downer will now be offering its customers greater flexibility on installation times.



Downer’s full 2011 results are due next week, with a forecast profit of $169 million.



In the first half of its 2011 financial year Downer EDI posted a net loss of $103.8 million.