REFILE-UPDATE 2-Arcadis core earnings fall on Brexit and Brazil recession

miércoles 27 de julio de 2016 03:44 GYT
 

(Corrects day in lead, to Wednesday, and typographical error in lead; 2017 not 207)

* Q2 EBITA down 12 pct at 46.2 mln euros vs f'cast 53.3 mln

* Sees continued tough conditions in second half

* Shares down 9.8 percent

By Thomas Escritt

AMSTERDAM, July 27 (Reuters) - Dutch engineer Arcadis posted a worse than expected drop in second-quarter core earnings and warned of Brexit-related uncertainty into 2017, sending its shares down nearly 10 percent on Wednesday.

The company, which earned 16 percent of its revenue in Britain last year, said investments had been delayed in the run-up to the country's vote to leave the European Union and it now expects clients to pause as they re-evaluate strategies.

"We have not seen any cancellations to date," Chief Executive Neil McArthur said. "But they are going through a period of rethinking their plans. We would expect that to have an impact on our business in 2017."

However, McArthur said that Arcadis would benefit from British government plans to support growth by spending on infrastructure. After buying smaller rival Hyder in 2014, infrastructure became its largest business in Britain.   Continuación...