UPDATE 1-Dutch engineer BAM warns cost overruns will hit 2017 earnings
(WorldNews Netherlands)

Dutch engineering and construction firm Royal BAM NV warned on Wednesday its 2017 profits will be `substantially lower` than in 2016, following cost overruns on a new sea lock it is building in the town of IJmuiden, near Amsterdam. BAM shares the 600 million euro contract for the locks on a 50:50 basis with larger rival Royal VolkerWessels NV, which said separately its forecast for an increase in full-year core earnings remains intact despite the setback at IJmuiden. ......