The Downer (ASX:DOW) share price is driving 4% higher this afternoon

Shares in the integrated services provider are rising after the company released its full-year results for FY21
The post The Downer (ASX:DOW) share price is driving 4% higher this afternoon appeared first on The Motley Fool Australia. –

The Downer EDI Limited (ASX: DOW) share price is 4.42% higher in early afternoon trade following the release of the company’s full-year results for financial year 2021.

To the market’s delight, Downer this morning reported a profit for the financial year just been.

After closing yesterday’s session at $5.54, the Downer share price is currently $5.78.

Let’s take a closer look how Downer performed over the 12 months ended 30 June 2021.

The financial year that’s been for Downer

The Downer share price is responding well to the company’s full-year results.

Downer has reported an underlying net profit after tax and amortisation of $261.2 million ­– 21.4% more than it reported last year.

It also clocked in a statutory net profit after tax of $230 million. That’s a significant improvement from its previous financial year’s statutory net profit, which came in at a loss of $105.8 million.

The Downer share price is also likely being driven higher by its latest dividend.

The company has handed a 12 cent final dividend back to the holders of each of its shares. That brings its total dividends for the financial year to 21 cents. All dividends given to Downer’s shareholders during the 2021 financial year were fully franked.

Downer share price snapshot

Today’s 4.42% gain has helped boost recent performance on the ASX.

Shares in the company are now trading for 6% more than they were at the start of 2021. They’ve also gained 34% since this time last year.

For comparison, the S&P/ASX 200 Index (ASX:XJO) has gained 23% over the last 12 months.

The post The Downer (ASX:DOW) share price is driving 4% higher this afternoon appeared first on The Motley Fool Australia.

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More reading

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ASX 200 midday update: Telstra, NAB, & QBE results

The Downer (ASX:DOW) share price on watch after FY21 earnings
5 things to watch on the ASX 200 on Thursday

Here are 3 of the most heavily traded ASX 200 shares today

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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