RES resource generation limited

AMSTERDAM, Oct 27 (Reuters) - Dutch engineering company Arcadis...

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    AMSTERDAM, Oct 27 (Reuters) - Dutch engineering company Arcadis ARDS.AS said on Thursday its chief executive stepped down due to a difference of opinion about its future, and reported a fall in core earnings in the latest quarter.

    Neil McArthur will be temporarily replaced by Chief Financial Officer Renier Vree, the company said in a trading update.

    Arcadis said the quarter was hurt by weakness in emerging markets and a sharp fall in the British pound.

    The company said its operating income before interest taxation and depreciation (EBITA) fell 34 percent to 43.3 million euros ($3.60 million), missing market forecasts. Analysts polled for Reuters estimated operating EBITA slipping 30 percent from the same period a year earlier.

    Revenue dropped 7 percent to 797 million euros, also below expectations.

    Arcadis said at the end of September that its project backlog stood at 2.2 billion euros, down 3 percent from December 2015, reflecting cancellations in Brazil, Qatar and China.

    Overall backlog in emerging markets declined 17 percent, and rose 11 percent in the UK and 6 percent in continental Europe and North America.

    In July, Arcadis reported a fall in second quarter earnings and warned that Britain's vote to leave the European Union could impact earnings into 2017.

    About 16 percent of Arcadis' revenue comes from Britain.

    ($1 = 0.9172 euros)

 
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