CORRECTED-UPDATE 2-Dutch engineer Arcadis collateral victim of Brazil scandals
(Corrects name of chief executive to Neil McArthur, not Ian)
* Revenues from Brazil down 15 percent
* On track for "significant" 2015 profit rise
* Shares down 3 percent
By Thomas Escritt
AMSTERDAM, April 23 (Reuters) - A sharp drop in revenues from Brazil and continuing falls in its North American markets kept gross revenue growth before acquisitions to just 1 percent at Dutch engineer Arcadis in the first quarter, sending its shares down 3 percent.
Growth at the company was led by recovering demand in Europe, the Middle East and Asia, but the company was hit by the fallout from corruption scandals in the Brazilian oil and gas industry.
Dutch rival SBM Offshore is being investigated by Brazilian authorities and has paid record fines for bribery. The scandal has led to a national procurement slowdown, which triggered a 15 percent decline in Arcadis's activities there.
Arcadis Chief Executive Neil McArthur said the company needed to adjust to a "new reality" in Brazil, and needed to make up to 300 redundancies in the country in response, though he insisted Arcadis was well placed there in the long term. Continuación...