5 Feb 2014

Downer upbeat on NZ arm

7:50 am on 5 February 2014

The New Zealand arm of Downer EDI says it's about two years away from completing its part of the Christchurch rebuild. Downer also says it's expects to pay more in wages this year.

On Tuesday, the Downer Group, an the Australian infrastructure company, reported a five percent rise in group profit to more than $A99 million for the six months to the end of December, but said its revenue and operating profit fell.

The New Zealand infrastructure arm increased revenue by 11.5 percent to $A535 million for the period, and operating profit almost doubled to more than $A31 million.

Downer's chief executive of New Zealand operations Cos Bruyn says there's been a definite improvement in the domestic market over the past six months.

The company's work on the Christchurch rebuild is well underway.

Mr Bruyn says there is a definite feeling of improvement in the economy and workloads.