Why it matters: Downer EDI warned the first half of 2024 will be challenging.
Downer reported a final dividend of 8¢ a share, down from 12¢ a share a year earlier.
Downer’s transport business is profitable but its utilities business took a $10m loss.
Downer EDI chief executive Peter Tompkins has pledged to deliver consistent earnings and monitor project performance more carefully after the contractor hired a new chief risk officer and sealed an annual net loss of $386 million.
“We want to make sure that we’ve got first-grade governance across our entire portfolio of projects,” Mr Tompkins told The Australian Financial Review.
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Jenny Wiggins writes on business, specialising in infrastructure, telecommunications and transport. Connect with Jenny on Twitter. Email Jenny at jwiggins@afr.com
