Macmahon loss

The mining services company Macmahon Holdings will post a loss of up to $20 million this financial year, thanks to its troubled construction business. But the sale of its construction operations to Leighton Holdings, which was approved by shareholders this week, will allow the company to focus on its better-performing mining operations. Macmahon made a net loss of $37.6 million in the six months to December 31, after nearly $61 million in write-downs on its construction projects. The mining business made a profit of $38.4 million for the half, up 20 per cent, and Macmahon expects it to make a pre-tax profit of more than $85 million for the full year.

The mining services company Macmahon Holdings will post a loss of up to $20 million this financial year, thanks to its troubled construction business. But the sale of its construction operations to Leighton Holdings, which was approved by shareholders this week, will allow the company to focus on its better-performing mining operations. Macmahon made a net loss of $37.6 million in the six months to December 31, after nearly $61 million in write-downs on its construction projects. The mining business made a profit of $38.4 million for the half, up 20 per cent, and Macmahon expects it to make a pre-tax profit of more than $85 million for the full year.

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