Opus International sinks into the red as ailing oil industry triggers more write-downs in Canada

Thu, 02 Feb 2017

By Paul McBeth Feb. 2 (BusinessDesk) - Opus International Consultants sank into the red as a struggling oil and gas sector weighed on the engineering firm's Canadian business, triggering more impairment charges. The Wellington-based company reported a loss of $29.9 million, or 20 cents per share, in calendar 2016, compared to a profit of $16.7 million, or 11 cents, a year earlier, it said in a statement. The engineering firm wrote down the value of its Canadian Stewart Weir assets by $33.2 million and its Australian division by $4.4 mill...

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