* Sees H1 pretax profit of 1.5 mln stg
* Says FY pretax profit may fall short of market
June 11 Structural steelwork maker
Severfield-Rowen Plc warned that its full-year profit
might be lower than market estimates as it expects cost overruns
on two projects in the United Kingdom, sending its shares down
The company, which has worked on access bridges at football
club Arsenal's Emirates Stadium, said last month it anticipated
full-year results to show a marginal improvement over 2011.
"While we still expect to deliver profit growth year on
year, profit for the full year may be lower than current
expectations," the company, which has also worked on Wimbledon's
Center Court and the 2012 Olympics stadium, said in a statement.
The company expects cost overruns of 1.6 million pounds
($2.47 million) and first-half pretax profit of 1.5 million
The company posted a pretax profit of 3.4 million pounds for
January-June last year.
A company spokesman declined to name the projects affected
but said they remained on track for completion in line with
The company's stock, one of the top percentage losers on the
London Stock Exchange on Monday, was down at 136 pence at 0720