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DOW - Downer EDI News Story

A$5.47 -0.1  -1.4%

Last Trade - 14/05/21

Mid Cap
Market Cap £2.11bn
Enterprise Value £3.10bn
Revenue £6.58bn
Position in Universe 133rd / 1913

Australia's Downer EDI to write down mining goodwill in interim results

Sun 4th February, 2018 10:58pm
Feb 5 (Reuters) - Australia's Downer EDI Ltd  DOW.AX  said 
on Monday it would book a goodwill impairment charge of A$77 
million ($60.88 million)for its mining business in the half year 
ending 31 December 2017. 
    The mining contractor said the impairment of goodwill was 
due to non-renewal of two material contracts and delays in 
securing alternative contracts. 
    The non-cash charge will not have any impact on the 
company's existing operations and the full-year 2018 guidance, 
Downer said. 
($1 = 1.2647 Australian dollars) 
 (Reporting by Sandhya Sampath in Bengaluru) 
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