Engineer Downer EDI has posted a small increase in net profit in the first half of fiscal 2010, and has reaffirmed its full year profit guidance.
Downer reported on Thursday first half net profit of $87.037 million, up 1.9 per cent from $85.443 million in the first half of fiscal 2009.
Revenue was down 2.9 per cent at $2.841 billion, but earnings before interest, tax, depreciation and amortisation (EBITDA) were up 9.4 per cent at $222.002 million.
Downer declared an interim dividend of 13.1 cents, nil franked, up from 13 cents in the prior corresponding period.
‘‘We are encouraged by the ongoing demand for our services,’’ said Downer EDI chief executive officer and managing director Geoff Knox.
‘‘The robustness of our strategic plan combined with our excellent work-in-hand and growing pipeline of opportunities augers well for the Group’s continued success,’’ Mr Knox said.
‘‘We see no material change to our FY10 guidance of NPAT growth of around 5 per cent.
‘‘We do, however, continue to monitor our end markets closely.’’
AAP
