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

Sun, 12 Aug 2012

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...

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