UPDATE 2-BRP says Ski-doo orders in Russia halve as rouble weakens

Fri Dec 12, 2014 11:01am EST
 
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* Cuts full-year earnings, revenue growth forecast

* Says Russian distributors cut Q4 orders by half

* Reports third-quarter profit C$0.60/shr vs est C$0.65/shr

* Shares fall 17 pct (Adds comment on orders in Russia, updates share price)

Dec 12 (Reuters) - BRP Inc, the maker of Ski-Doo snowmobiles and Sea-Doo watercraft, cut its full-year earnings and revenue forecast as it expects a weak rouble to hit sales in Russia, sending its shares down as much as 17 percent to a record low.

The Canadian recreational vehicle maker, which also reported a lower-than-expected third-quarter profit, said distributors in Russia have halved their snowmobile orders for the peak winter season because of the rising cost of imports.

The rouble has fallen by about a third against the euro since the end of July, hit by the decline in oil prices and Western sanctions over Moscow's involvement in Ukraine.

BRP, which also makes Can-Am all-terrain vehicles and side-by-side vehicles, counted Russia as its third-largest market for the year ended January 2014. It has manufacturing plants in the United States, Canada, Mexico and Europe.

BRP, spun off from Bombardier Inc in 2003, cut its full-year adjusted earnings forecast to C$1.47-C$1.57 per share from C$1.55-C$1.65 and its full-year revenue growth forecast to 8-12 percent from 9-13 percent.   Continued...