Downer EDI net profit rises 6pc on turnaround
Jenny WigginsInfrastructure reporter
Downer EDI’s shares surged to their highest levels in more than a year after a 6 per cent rise in interim net profit beat expectations and the contractor deepened its cost-cutting targets.
Chief executive Peter Tompkins has been trying to restore investors’ confidence in the company after a torrid year that included revelations of accounting irregularities, several profit warnings and a NSW corruption inquiry.
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