Restructuring in North America and problems in Brazil have cut the expected profits of Dutch built environment consulting giant, Arcadis.
Arcadis issued a profit warning this week advising investors that its operating profit for the 2015 calendar year will jump 10% on 2014, not 20% as it had hoped.
In a statement to the Dutch stock exchange Arcadis ascribed the hit to lower revenue and €5m worth of extra restructuring costs in North America and difficulties in emerging markets in the fourth quarter.
It also blamed a delay in divesting energy assets in Brazil. The company had been expecting the sales to bring in around €6m.
However, the firm said revenue increased 30%, while cash flow was "strong". The firm did not mention UK or European trading.
In Arcadis’ 2014 results the firm posted operating profit of €123.6m and revenue of €2.6bn.
In December confirmed that its staff in Brazil were helping police with an investigation into the alleged misuse of funds on a $6.4bn water management project in the north of the country.