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Costs hurt contractor

Fitting-out contractor CIL Holdings saw attributable profit drop to $10 million from $20.3 million in the year to June 30 after suffering higher finance costs and an exceptional loss of $6.2 million on investment write-offs and costs claimed by subcontractors in legal cases. The fall was despite a big increase in turnover to $611.5 million from $395.5 million and came after a sharp rise in interest charges to $10.8 million from $2.7 million. No dividend was declared for the year.

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