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Profits fall but Atkins confident of defying downturn
DESIGN and engineering giant WS Atkins is bullish over prospects for recovery despite a 13 per cent fall in first-half profits.
The group, which has offices in Leeds, York and Sheffield, believes the global scale of the business will give it a "good level of resilience" if the UK's economic slowdown continues.
Atkins made pre-tax profits of 43.5m following a one per cent fall in first-half revenues to 701.2m.
The group has already secured 90 per cent of its projected revenues for the year despite uncertainty over the timing of when some contracts will begin.
The firm – which is working on the development of the London 2012 Olympic Park – landed new public sector deals during the first half including design work for the New Glasgow Campus education project and the NHS Tayside Murray Royal Hospital.
Atkins is also eyeing further opportunities in the nuclear new build sector and working with the Department for Energy and Climate Change on industry studies.
Numis analyst Francesca Raleigh said the firm's more upbeat tone was an "interesting change of message".
Last year the group bought South Yorkshire engineering company MG Bennett for 2.5m.
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Thursday 24 May 2012
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