Ausenco slashes guidance

Contractor issues second downgrade in a month, after interim profit slumps.

Engineering and construction group Ausenco (AAX) has slashed its full-year earnings guidance after its interim profit slumped on the back of a huge decline in earnings from its African operations.

A restructuring taken to shore up amid the global mining slowdown also hit its bottom line. 

In the half year to June 30, Ausenco's net profit sank to $3.5 million, from $20.3 million in the previous corresponding period.

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