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.
Feb 16, 2016, updated Aug 29, 2019
Part of Bradken's rebuilt roof at Kilburn
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
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