Tuesday 15th March 2011 |
Text too small? |
Australian-based Downer EDI is expecting last month's Christchurch earthquake to reduce its earnings before interest and tax by up to A$10 million (NZ$13.7 million) for the full financial year.
The severity of the earthquake would place significant pressure on maintenance and infrastructure spending across New Zealand, the company said today.
Near term government spending would be reallocated from other areas and clients would freeze spending in the short term as they assessed the earthquake's impact and the required recovery plan.
"Downer expects to participate in the rebuilding and reconstruction of Christchurch, but the timing of that work is unknown at this point," the company said today.
NZPA
No comments yet
CDC Independent Valuation - 30 June 2025
TruScreen Group Limited SPP Update
THL provides updated guidance
CEN - Greymouth gas deal
July 4th Morning Report
July 3rd Morning Report
ikeGPS Chief Financial Officer Transition
TWL - TradeWindow announces strategic partnership with FTA
BLT - Patent issue settled and new 5 year agreement with BSP
July 2nd Morning Report