Anglo-Norwegian engineering group Kvaerner is expected to report a 61 percent drop in second-quarter pre-tax profits due to weak market conditions in the U.S., a Reuters survey showed on Tuesday. Six analysts forecast the company would report pre-tax profits of 56 million Norwegian crowns ($6.30 million) in the three months to June 30 from 145 million in the same period last year. Kvaerner's operating profit for the period was seen at 179 million, down from 282 million in the second quarter of 2000. The company is scheduled to present its second-quarter results on Wednesday morning. Kvaerner's shares hit a 15-year low of 40.6 crowns last week on the back of negative reports from some brokerages.
