Downer is sticking with its profit guidance for the current 2016 financial year of NPAT of $190 million, he said.

“The flow-on impact of low commodity prices on business investment and operating expenditure has required us to work even more closely with our customers,” Fenn said.

“We are becoming more efficient, better at what we do and we have continued to build our customer base.

“Our ‘relationships creating success’ program has been received very positively by our customers and our people. Being customer-centric and helping our customers succeed has never been more important to our business.”

In February this year Downer introduced a new organisational and reporting structure to better align to its customers.

“Our Mining division, which has seen revenue fall due to contract completions and volume reductions, continues to perform well and remains the contract miner of choice in Australia,” Fenn said.

“During the year, we were awarded an expanded contract with Fortescue Metals Group at Christmas Creek, a two year contract extension with BMA at Blackwater in Queensland and a two year contract for underground mining services at the Cobar copper mine in New South Wales.”