Downer expects to report a full-year statutory net loss of $150 million-$160 million after recognising charges worth $386 million on account of goodwill impairment, restructuring and portfolio review costs.
Downer has secured a $450 million contract with Fortescue Metals Group for early mining and maintenance services at the Eliwana iron ore mine in the Pilbara.
Infrastructure group Downer EDI's possible sale of its mining business to Perenti Global has been suspended due to the market volatility caused by the coronavirus pandemic.
Shares in national contracting groups CIMIC and Downer have plummeted more than 20 per cent after the companies reported significant write-downs and higher costs respectively.
Shares in infrastructure and mining services company Downer have fallen more than 20 per cent after institutional investors showed limited enthusiasm for a capital raising to help fund its $1.26 billion takeover of cleaning and catering firm Spotless Group.
Shares in cleaning and catering company Spotless Group have jumped nearly 50 per cent after infrastructure and mining services firm Downer lobbed a $1.26 billion takeover offer.
Infrastructure and mining services group Downer has agreed to buy New Zealand builder Hawkins for an undisclosed sum, as it expands operations in the Pacific nation.
Downer has announced major contract wins at the Boddington gold mine and Karara Mining, with the latter signalling that the loss-making iron ore project is likely to continue operating.
Downer's full-year profit has dropped 14 per cent due to a slowdown in its main mining and construction divisions and write-offs related to an unsuccessful metro rail bid.
A joint venture between Downer and Canadian train manufacturer Bombardier Transportation has won more work with the Public Transport Authority of WA, securing $512 million in contracts for both the supply of new trains and for maintenance services.
Engineering and contracting group Downer EDI has trimmed its full-year profit guidance after posting a nearly 24 per cent drop in first-half profit, with one of the few positives being increased work on oil and gas projects in Western Australia.
Engineering group Downer expects to achieve its 2015-16 profit guidance of $190 million despite a continuing decline in mining-related capex by customers.
The companies that run Melbourne's trams and the Gold Coast's privately owned light rail service are set to enter the Western Australian market after buying one of Perth's major bus operators.
Rail freight business Pacific National has awarded engineering firm Downer a $1 billion contract to provide maintenance services to 300 of the Asciano subsidiary's train fleet.
A joint venture between Downer EDI and German train manufacturer Bombardier Transportation has secured a $40 million contract to supply maintenance services on 22 new Public Transport Authority tra
Downer EDI has secured a $400 million contract with Bechtel for two electrical and instrumentation packages for the downstream portion of the Chevron-operated Wheatstone project.
Shares in Downer EDI gained almost four per cent after the engineering firm said it won a six-year contract worth $3 billion to provide mining services to Fortescue Metals Group.
