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Downer falls on profit drop

ENGINEERING company Downer EDI has downgraded its financial guidance for 2007 warning that its profit for the year will be $60 million - 37% lower than forecast - sending the company’s share price plunging 15% or $1.05 to $5.96 in morning trade.

Kate Haycock
Downer falls on profit drop

Downer, which provides engineering services to the mining sector, also announced its managing director Stephen Gillies will be stepping down after 19 years with the company and 11 in the managing director’s...

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