NextDC said strong local opposition to its Footscray M3 project in Melbourne has
forced a delay to the project's power-supply upgrade until 2027 and pushed
planning approval past next month’s state election. The company cut profit
guidance by over one-third and lowered revenue forecasts. Shares tumbled as much
as 44% intraday to A$5.15, trimming market value to A$4.3bn; the stock traded
above A$16 in early June.
