Shares in Spotless were hit hard after announcing a 31% fall in profit to $33 million for the half year.
A short time ago, they were down 13% to $0.825.
Revenue at the facilities services group fell 9.4% to $1.455 billion and the payout to shareholders was cut.
The result includes writedowns of $391 million associated with restructuring.
Full year profit is forecast to be between $80 million and $90 million.
“The outlook reflects business development returns being slower than expected,” the company said.