Downer EDI Limited (ASX:DOW) has flagged further asset sales could be on the cards in the months ahead after already making a raft of non-core divestments. It came after Downer reported a 5.9% lift in its half-year profit after tax attributable to members of the parent entity to $72.1 million from $68.1 million in the previous corresponding period. Chief Financial Officer Mal Ashcroft said the company had completed six divestments to realise value and further refine the portfolio.

"While we have made good early progress in simplifying our portfolio, we are finalising our strategy work and our full potential plans, which will establish the operational and financial parameters for our portfolio," he said. "We continue to evaluate non-core divestment opportunities, and given our strengthened balance sheet, we will remain disciplined to ensure we realise value for shareholders if we transact." Ashcroft said Downer had made good progress in reshaping its portfolio in the first half, divesting a combination of loss-making and undervalued businesses. He said it was exploring further non-core divestments and finalising its new capital management framework.

The company said it was in a strategic planning process to determine what could be for sale. Previously, Downer has worked with Macquarie Capital and Barrenjoey on asset sales.