Worleyparsons Limited
(ASX:WOR) has downgraded its full-year earnings forecast after experiencing a delay in upturn in its markets.
The group says it expects underlying net profit after tax for fiscal 2014 in the range of $260 million to $300 million.
The group had earlier expected NPAT of $322 million.
It now expects first-half underlying NPAT in the range of $90 million to $110 million.
WorleyParsons blamed reduced professional services revenue and its cost reduction program for the revision.
WorleyParsons delivered a net profit of $344.2 million in fiscal 2013
