By Marcus Leach
Shares in Invensys, the UK engineering firm, dropped dramatically following a warning from the firm that their 2011 operating profit would be "significantly below" that of the previous year.
This is, according to the firm, down to delays and additional work required on safety systems of eight nuclear reactors it is installing in China, which will lower profits by £40m.
Shares in the firm fell 22% to 176.90 pence.
"A review has been carried out of the engineering requirements and associated costs for the three contracts to install and commission control and safety systems into eight nuclear reactors under construction in China," Invensys said.
"This review has concluded that there will be a delay in delivery and the need for additional engineering to be carried out on the first contract."
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