Profits and turnover up for Atkins
AJ100 big hitter Atkins has posted strong preliminary results with turnover up 2.6 per cent and pre-tax profits rising by an impressive 7.3 per cent
According to the figures for the year to 31 March 2014, the engineering and design giant’s overall revenue was £1.75illion, up almost £450million on the previous year.
The company, which was ranked seventh in this year’s AJ100, saw its underlying operating margin - excluding disposals- reach 6.7 per cent, up from 6.4 per cent the year before.
The AJ’s sister publication Construction News reported that global staff numbers decreased by 2.3 per cent to 17,489 people - though its number of ARB registered architects has remained static at 97 (see AJ100 data).
The UK and Europe performed strongly, and Atkins said its global design centres in India helped to boost its performance and increase competitiveness. Highways consultancy and rail were strong sectors.
The company said it saw ‘opportunities re-emerging for our design and engineering business from the UK education market and infrastructure work associated with nuclear new-build projects’.
On outlook, Atkins said its exposure to transportation markets across the UK and North America meant a with a good backlog of business.
Abroad, it said the Middle East region is benefiting from a ‘more focused approach’ and it is intending to diversify its offering in Asia Pacific beyond the Hong Kong base.
On sectors, it pointed to energy as having a strong pipeline and saw “positive momentum in the year ahead” overall.
The firm produced a strong cash performance, with net funds up 31.7 per cent (including disposals) at £188.3m and operating cash flow of £95.5m (up from £82.9m in 2012/13).