InDaily

Adelaide's independent news

Support

Bradken widens half-year net loss

Business

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

Comments
Comments Print article

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.

AAP

We value local independent journalism. We hope you do too.

InDaily provides valuable, local independent journalism in South Australia. As a news organisation it offers an alternative to The Advertiser, a different voice and a closer look at what is happening in our city and state for free. Any contribution to help fund our work is appreciated. Please click below to become an InDaily supporter.

Powered by PressPatron

Comments

Show comments Hide comments
Will my comment be published? Read the guidelines.

More Business stories

Loading next article