NRW adjusts FY guidance

Company News

NRW Holdings Limited (ASX:NWH) has lowered its full year earnings and revenue guidance due to delays in new contract awards and slower than anticipated project ramp ups.
 
The civil contractor says owing to these factors, its revenue is expected to come in at $1.3 billion and its net profit will be between $73 and $76 million.
 
The updated guidance range reflects a return on revenue of between 5.6 and 5.8 per cent. 
 
Back in February NRW had cautioned the market on the likelihood its full year revenues would hinge on the timely award and commencement of contracts in the current half.
 
The company says shortfall in anticipated full year revenue will now flow into fiscal 2014 as the projects in question progressively scale up. 
 
NRW Holdings reported a $48.5 million net profit in the first half of fiscal 2013. 

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