Construction giant Multiplex sank deeper into loss last year after it wrote off $192.6 million for building work on Brisbane’s Queen's Wharf casino, resort and residential project as the financial position of its Star Entertainment joint venture client deteriorated.
The impairment pulled Multiplex’s net after-tax loss to $219.5 million last calendar year from $34.6 million, even as revenue jumped by one-third to $4 billion, the Sydney-based company revealed in financial documents lodged with corporate regulator ASIC last week.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Based in Melbourne, Michael is on Bluesky @michaelbleby.bsky.social. Email Michael at mbleby@afr.com
