ASX Announcements
Change of Director's Interest Notice
Change of Director’s Interest Notice
Change of Director's Interest Notice
Change of Director’s Interest Notice
Change of Director's Interest Notice
Change of Director’s Interest Notice
February
Downer EDI boss says price-fixing claims won’t hurt Defence bid
Peter Tompkins is confident the competition watchdog’s investigation into alleged price fixing won’t hurt its chances of winning multi-billion dollar defence contracts.
What we learnt: This is what’s behind the blue-chip battering
It was sell first, ask questions later on Thursday as some ASX big names were dumped. Why? It’s all about the outlook.
December 2024
Macquarie Infrastructure circles Adamantem’s laundry business
Street Talk understands one of Macquarie Infrastructure’s entities is weighing an acquisition of Linen Services Australia.
Nothing like an ACCC cartel case to scare the pants off corporate Australia
Cartel cases – even the ones that bomb – are scary. This is questionable, but definitely worth watching.
Downer EDI, Ventia Services execs named in price-fixing allegations
The contractors’ shares tumbled as investors worried whether the allegations would hurt their ability to win tens of billions of dollars of future Defence contracts.
Downer exits Spotless catering biz; sells NZ arm to Doltone House owners
Downer boss Peter Tompkins has agreed terms to offload the Spotless New Zealand catering business to the Signorelli family’s Doltone Hospitality Group.
September 2024
Back to basics works for bombed out blue chips
Here’s a lesson for all the new CEOs; investors prefer it when you fix what you’ve got, rather than chase what you think you need.
August 2024
Downer EDI back in the black as cost-cutting pays off
The contractor’s shares soared on Friday as it swung back into profit and proved it could increase earnings margins.
July 2024
Downer EDI pitches in on flailing EnergyConnect construction
The troubles at the cable project are being closely watched because its failure would imperil the entire build-out of the transmission grid, sources say.
May 2024
More jobs go at Downer EDI in efficiency drive
Dozens of employees have lost their jobs in a new wave of cost-cutting including senior executives and people in the engineering group’s IT operations.
April 2024
Downer EDI employees, council workers ‘seriously corrupt’, ICAC finds
Two former employees of Downer EDI were corrupt on transport projects and the company did not always comply with rules dealing with subcontractors, investigators found.
March 2024
Downer EDI gets ready to reboot mineral processing division auction
Sources said the contractor is sticking with Barrenjoey, and a sales process is expected to launch in the coming months.
Scyne too slow in bid to stop former partner moving to Downer: judge
The PwC spin-off failed in a bid to temporarily restrain an ex-partner from working at services contractor Downer EDI because it took too long to bring the action.
KPMG knew AusNet contract was a ‘risk,’ Downer claims
The firm had flagged the agreement with the utilities group and should have discovered revenue was overstated, the contractor had alleged.
Downer’s stoush with KPMG a big test for corporate Australia
Cosy relationships between big four audit firms and directors have greased corporate Australia’s wheels for decades. Now they are coming under pressure.
Downer EDI sues KPMG for failing to detect accounting irregularities
The contractor has sought to blame its auditor for the scandal, which wiped some $500 million from its valuation, forcing the firm to quit as auditor.
February 2024
What we learnt from Seven, Dexus, Downer and AMP’s results
Seven thrills investors with yet another profit upgrade, Downer and AMP claw back lost ground and Dexus’ departing boss stands firm on a key project.
Downer EDI net profit rises 6pc on turnaround
Downer EDI’s shares surged to their highest levels in more than a year after profits beat expectations and the contractor deepened its cost-cutting targets.
November 2023
Grant Fenn should be accountable for Downer woes, proxy groups say
Downer EDI is poised to cop a protest vote against exec pay at this week’s AGM after advisers queried share rights awarded to its former CEO.
Citi, Skye advise Palisade on winning bid for Downer’s Repurpose It
The sale price is understood to have valued it at less than seven-times EBITDA. It’s at the lower end of the multiples that waste management companies have traditionally fetched.