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Bradken widens half-year net loss


Mining services group Bradken has widened its half-year loss to $168.1 million after costs from a major restructure and asset writedowns.

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Underlying earnings before interest, tax, depreciation and amortisation for the six months ended December 31 fell 28 per cent from a year earlier to $51.9 million.

The company has been hit by the costs of merging four of its businesses, closing under-performing manufacturing facilities and a drop in demand amid a commodities slump.

“It has been a trying first half. However, the company remains focused on its strategic intent of generating surplus cash to pay down its debt,” acting managing director Phil Arnall said.


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