Atkins warns of spending cut impact

ENGINEERING and construction firm WS Atkins said its annual profit slipped 3.7 per cent and warned that UK government spending cuts will take their toll.

The company, which has offices in Leeds, York and Sheffield employing around 600 staff and provides architectural and design services, posted a pre-tax profit before exceptional items of 96.5m compared with 100.2m last year, while revenue fell 6.7 per cent to 1.39bn.

The impact of the government's plans to slash spending remains a concern, echoing comments from equipment hire company Ashtead which posted full-year results today.

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"The uncertainty of the impact of UK public spending cuts continues and we are prepared for a period of tighter government spending," said Atkins in a statement.

Atkins recommended a dividend up 5.8 per cent to 18.25p per share.

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