WorleyParsons: Q1 misses expectations on strong A$

Published: 26 Oct 2009 19:09:35 PST

MELBOURNE, Oct 27 - Australian mining and energy services group WorleyParsons Ltd <WOR.AX> said its first quarter earnings were weaker than expected as the Australian dollar's surge cut its foreign earnings.

It said it expected its first half profit to be well below the same period last year, with its annual profit to be heavily skewed to the second half of the year.

It had forecast in August a slight fall in net profit for the year to June 2010 and told shareholders on Tuesday that if the Aussie dollar holds at current levels, it would face a further fall of A$35 million to A$40 million ($32 million to $37 million) in profit.