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    IHC Caland issues revised guidance after project setbacks

    News // October 10, 2003
    IHC Caland in the Netherlands has announced that due to problems in the final stages of the execution of a number of large innovative projects, the Group will not achieve its forecast profit of US$110 million.

    The exact level of the profit shortfall will be significant, but cannot yet be precisely identified, as it will depend on the finalisation of the projects referred to above, which is expected by the end of this year. The problems indicated are of a project specific nature, and should have no effect on the results for 2004 or future years.

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