<p>Downer EDI managing director Stephen Gillies has resigned after the company downgraded its profit expectations for the year this morning (Thursday, August 2).</p> <p>Based on current expectations and assumptions, net profit after tax for the full year will be $101.5m, significantly lower than its previous guidance of $157-$160m.</p> <p>Mr Gillies will step down from the company immediately. </p> <p>Profit outlook was affected by contract problems, including higher costs and delays.</p> <p>“Importantly, there have been no new contracts identified as having significant disputes during the reporting period and cash will be received for recent contract settlements,” the company said. </p> <p>Recovery programs relating to Iluka Resources and the Coppabella coal mine project, would continue to be pursued to recover funds for shareholders, it said.</p> <br />
Downer EDI boss quits as profit forecast is downgraded
$109,890
2017 OMME MONITOR OMME 2100 EP - 21M TRAILER MOUNTED LIFT
- » Listing Type: Used
Seven Hills, NSW
$339,900
2020 PLATFORM BASKET MONITOR - 3315 LBD - 33M HYBRID SPIDER LIFT
- » Listing Type: Used
Seven Hills, NSW
$179,900
GSR MONITOR GSR E209PX TRUCK MOUNTED BOOM LIFT - PRICE DOES NOT INCLUDE THE TRUCK
- » Listing Type: New
Seven Hills, NSW
$252,890
2019 PLATFORM BASKET MONITOR 2714 D - 27M SPIDER LIFT
- » Listing Type: Used
Seven Hills, NSW
$264,000
2019 SOCAGE SOCAGE T320 TRUCK MOUNTED BOOM LIFT - (BUILT & READY)
- » Listing Type: New
Seven Hills, NSW
$197,890
2021 PLATFORM BASKET MONITOR 2095 LBD - 20M HYBRID SPIDER LIFT
- » Listing Type: Used
Seven Hills, NSW
$181,390
2020 OMME MONITOR OMME 2100 EP - 21M TRAILER MOUNTED LIFT
- » Listing Type: Used
Seven Hills, NSW
$99,900
2017 OMME MONITOR 1800RX - 18M SPIDER LIFT - IN STOCK NOW
- » Listing Type: Used
Seven Hills, NSW
Related Posts
Gippsland Line Upgrade nears completion
The Victorian Government's Gippsland Line Upgrade project will soon be complete following a major construction blitz. The project will...
Severe weather impacts Queensland Rail’s regional network
Ongoing heavy rainfall across North Queensland has forced closures across Queensland Rail's North Coast line. Spirit of Queensland train services...
Rail projects deliver more homes near Anzac Station
More than 240 news homes will be built in South Melbourne, close to the new Anzac Station, which will open...
