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OIL AND GAS ENGINEERING

VDM flags half-year loss

SHARES in struggling contractor VDM Group have slumped this morning after the company forecast a loss for the December 2012 half-year, as well as possible asset write-downs, while cutting more than 40 jobs.

Kristie Batten
VDM flags half-year loss

The company flagged a pre-tax loss of $A7-9 million for the period, higher than the $5 million loss before tax posted in the June half-year. VDM said the greatest impact had been the outcome of contract...

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