Downer more than doubles annual earnings in NZ as group returns to profit

Downer more than doubles annual earnings in NZ as group returns to profit
By Paul McBeth Aug 13 (BusinessDesk) - Downer EDI, the infrastructure, mining and rail building firm, more than doubled earnings in New Zealand this year and returned to profit as a group after write-downs on its New South Wales train project erased earnings in 2011. The New Zealand unit's pretax earnings climbed to A$29.6 million in the 12 months ended June 30, from A$11 million a year earlier, with local revenue rising to A$919.6 million from A$879.2 million, the Sydney-based company said in a statement. The group reported a net profit of...