Building firm Ballast Nedam profits fall

Building company Ballast Nedam said on Friday it is to reorganise a number of subsidiary companies due to a fall in earnings.

Operating profit reached €4m in the first six months of this year, compared with €13m in the year-earlier period.
Turnover rose 5% to €601m, but net profit amounted to just €1.2m, comared with €7m in the same period in 2008.
The company said it expects full year profits to be between €20m and €26m. It did not give more details about the likely effects of the reorganisation on staff.

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