Downer EDI Limited (ASX:DOW) has provided trading update and a revised guidance for FY20. The construction company has revised its FY20 NPATA guidance to $300 million for the year.
Trading Update Highlights
- Higher costs incurred in December and January on smaller number of contracts in EC&M division.
- EC&M revenue forecast is down by around $300 million, among other downgrades.
In a separate release, Downer EDI notified that a $600 million contract was awarded in mining sector.
DOW was trading at $6.965, down 20.4 per cent from the previous close. (01:19 PM AEDT)
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