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AUSTRALIA

VDM predicts downturn in profits

ENGINEERING company VDM Group is forecasting a slump in profits for the 2011 financial year as the company feels a lag in the award of new projects.

Kristie Batten
VDM predicts downturn in profits

Operating profit after tax for the 2010 year was $A16.7 million and, despite results so far tracking those of last year, the company is expecting an operating profit after tax of around $10 million. ...

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