Engineering company RCR Tomlinson has cut its forecast 2008 financial year net profits by $4.5 million, citing delays in a major contract project, as well as the increase in costs of several fixed price contracts.
Engineering company RCR Tomlinson has cut its forecast 2008 financial year net profits by $4.5 million, citing delays in a major contract project, as well as the increase in costs of several fixed price contracts.
The company says project delays, tighter margins and increased competition will influence profits in the near term, with the revised 2008 financial year net profits forecast to $15.5 million.
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