Consultant Grontmij has today warned that it expects to make a loss of between £45M and £47M this year.
The Dutch consultant warned of an expected drop in profits in November due to “deteriorating local markets in the Netherlands and the UK”. It then announced in December that it had called in auditor KPMG to help it with a comprehensive restructuring that will see 200 jobs lost.
Today, it has provided an update ahead of publication of the 2011 full year figures on 9 March. Total revenue is expected to be approximately €1.04bn (£865M), up on £768M last year. But the anticipated net loss of up to £47M contrasts with a net profit of £14M last year.
Chief executive Michiel Jaski said the firm was in the process of finalising an “extensive” strategic and financial review. “This includes a prudent assessment of our performance and our assets,” he said. “We will provide a further update on 9 March, when we will also present the results of our strategic and financial review and the annual results for 2011.”