Arcadis has plunged to a €27m (£24m) loss on the back of a €40m (£35m) writedown in its Middle East division. Falling workloads forced the consultant to slash the value of goodwill it had assumed following acquisitions in the Middle East, according to its final results for the year to 31 December 2018. The company said: "Revenues declined particularly in the Middle East due to higher selectivity and the cancellation of a large project."
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