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BRIEF-Devine says it has negotiated and completed sale of Townsville city project

Published 30/05/2016, 09:34 am
© Reuters.  BRIEF-Devine says it has negotiated and completed sale of Townsville city project
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May 30 (Reuters) - Devine Ltd DVN.AX :

* Has negotiated and completed the sale of the townsville city project in Queensland

* Is in advanced negotiations for other asset sales

* Proceeds from the townsville sale have been used to reduce debt and provide working capital

* Expects impairments on certain assets

* Has implemented a cost reduction plan

* Anticipates that its 2016 full year result will be a loss of approximately $35 million

* Source text for Eikon ID:nASX3nsrcz

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