UPDATE 2.30pm: Global Construction Services (GCS) has posted a 32.8 per cent slump in full-year profit to $15.3 million, citing project delays and softer market conditions in WA.
The diversified construction and maintenance services company's result was achieved on revenue of $200.3 million, up 5.6 per cent.
The company's board decided not to pay a final dividend after paying an interim dividend of two cents a share earlier in the year.
GCS said it full-year result was emblematic of general market conditions in the WA economy.
"Continued delays in the letting of major projects in the Perth CBD, a slowing of general demand in the Pilbara and a dampened residential market were factors which individually and collectively impacted the financial result."
Shares in GCS closed down two cents, or 3.85 per cent, at 50 cents.