WorleyParsons Limited
(ASX:WOR) has downgraded its full-year earnings forecast amid softening demand for resource infrastructure.
The group says it expects to report a net profit in the range of $320 to $340 million compared to underlying earnings of $345.6 million for the full year in 2012.
At its half-yearly results WorleyParsons said that it continued to expect growth for full year 2013 compared to its 2012 underlying earnings.
The mining services company says its West Australian business has been impacted by the softening of demand for resource infrastructure as clients defer major projects and implement cost management initiatives.
WorleyParsons says its infrastructure, environment and minerals, metals and chemicals businesses have been the hardest hit.
WorleyParsons generated a net profit of $165.9 million for the first half of the current financial year.
