Fugro issues profit warning, share value falls 19%
Geotechnical survey group Fugro on Thursday issued a profit warning and saw its shares fall by 19% on the Amsterdam AEX.
The company said it expects growth to be lower than it expected because of adverse developments in the oil and gas market which have put pressure on its profit margin.
The difficult circumstances have forced Fugro to write down between €300m and €350m on its assets.
It is the third profit warning in a week, following those of Air France-KLM, BAM and Ballast Nedam.
Later on Thursday, paint producer Holland Colours also issued a profit warning. Its shares immediately tumbled 20%.
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