From SMH (4/2)Engineering group Downer EDI's December half net...

From SMH (4/2)

Engineering group Downer EDI's December half net profit of $99.1 million came in modestly ahead of market expectations of a profit of around $95 million.
…
Gearing, including off-balance sheet debt, stands at 16.2 per cent, which leaves the group "well positioned for opportunities".

Downer all but ruled out bidding for Forge Group, the troubled Western Australian engineer which has run into problems with some power station projects.

"It is fraught with difficulty," Mr Fenn said, when asked if he would consider buying a troubled operator in the sector. "You never say never.

"You need to do very extensive due diligence."