The increased performance of Downer EDI Ltd (ASX & NZX: DOW) was reflected by the plus $A1 billion virtual takeover of the Australasian industrial cleaning and catering company Spotless Holdings Ltd (ASX: SPO).
This was shown in a corporate presentation last week at the Macquarie Investments investor seminar last week by chief executive Grant Fenn.
The company, which has strong civil construct and mining contracting arms, saw the Spotless division bring in revenue of $A3 billion, which was greater than all the other divisions, with the Transport division the next best performer with revenue of $A2.5 B.
Fenn told the audience that the company now has 300 offices, mainly in Australia and NZ, and employees a total of 56,000 people.
It now produces annual revenue of $A12 B, with half of this coming from government-initiated work.
Fenn said Spotless is now operating as a division of Downer and has a new chief executive and chief financial officer.