Australia's Downer EDI faces worst day in 5 months after flagging impairment charges

DOWNER EDI

03/08/2023 02:00

** Shares of Downer EDI  DOW.AX  fall nearly 6% to A$4.17,
hitting their lowest since July 10
    ** Stock posts biggest intraday percentage drop since Feb.
27, biggest percentage loser on the benchmark ASX 200  .AXJO 
    ** Australian contractor expects to post a statutory net
loss after tax of about A$386 mln ($252.29 mln) on impairment
charges
    ** DOW flags A$549.6 mln non-cash, pre-tax impairment
charges for the year ended June 30, 2023
    ** Stock had gained 19.4% this year, as of last close 
    
($1 = 1.5300 Australian dollars)

 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))