NRW said group revenue was expected to be about $A1.3 billion, with net profit after tax slated at $73-76 million.

Initial guidance provided to the market earlier in the year forecast revenue of $1.4-1.5 billion, pending the timely award and commencement of contracts in the remainder of the second half of FY13.

NRW cited delays in the awarding of new contracts, in addition to the slower than anticipated ramp-up of projects as the reason for the guidance downgrade.

The shortfall in anticipated revenue for the period ending June 30 will flow into FY14 as the projects progressively scale up.

The company slid 9.3% on the news in morning trade to 98c.

NRW recorded $48.6 million in profits for the six months ending in December 2012, which was up 7% on the previous corresponding period, while revenue was up 33% to $810.7 million.

The company previously stated it expected 2013 to be a strong year for its civil division but it suspected there would be lower revenue from mining.

NRW recently won a $180 million bulk earthworks project for Rio Tinto’s Nammuldi below water table project with the Eastern Guruma joint venture.

The contract came hot on the heels of NRW announcing it had bagged a $67 million contract for bulk earthworks at Hancock Prospecting’s Roy Hill iron ore project in the Pilbara.

Earlier in the year it was awarded a $140 million contract to provide drilling services to Fortescue Metals Group’s Cloudbreak iron ore operation.

NRW’s order book remains strong, with $1.3 billion of work in hand and submitted tenders of about $3.42 billion.