News: Downer reveals FY profit rise & buy-back

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Downer EDI Limited (ASX:DOW) has reported a slight rise in its full year profit but flagged challenging conditions ahead. 

 

The engineering company improved its net profit by 0.2 per cent to almost $216 million in the 2014 financial year. 

 

Over the following year Downer expects its net profit to decline to about $205 million as tough commodity markets impact its major clients. 

 

Downer has today also revealed an on-market share buy-back which it says forms part of its ongoing capital management strategy. 

 

A final fully-franked dividend of 12 cents per share has been declared.