SEVERFIELD-Rowen, the Thirsk-based structural steel company, has warned profit will be hit by an overspend of £1.6 million.
The business announced today that there had been operational overruns against its estimated costs on two complex projects in the UK.
Profit before tax in the first half is now expected to be about £1.5 million, it said.
In a trading update posted on the London Stock Exchange, it said: "Our performance for the full year remains well supported by our strong order book, anticipated full capacity utilisation and good project mix in both the UK and India.
"While we still expect to deliver profit growth year on year, profit for the full year may be lower than current expectations. "
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here