radgegadge, here is one but I have read plenty more similar articles:
Cost blowouts at Waratah leads Downer to book $190m impairment UPDATE: Alex Wilson From: Dow Jones Newswires June 01, 2010 11:50AM
DOWNER EDI is facing losses on its Waratah train project and has been forced to make a $190 million provision for cost blowouts, the company said.
The Sydney-based Downer EDI has replaced the head of its rail division and said the recovery of additional costs will be difficult under the Waratah contracts.
The news took the market by surprise, with the stock tumbling 19 per cent to $5.09 per share at 0118 GMT, in a broader Australian market down 0.7 per cent, and analysts said investors would now be concerned that the project could face further cost overruns.
DOW Price at posting:
$4.42 Sentiment: None Disclosure: Not Held
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