WS Atkins profit up two per cent

ENGINEERING group WS Atkins posted a two per cent rise in pre-tax profit as job cuts helped it to offset the impact of the UK government's austerity drive.

By The Newsroom

Published 25th Nov 2010, 08:23 BST

The firm, which has offices in Leeds, York and Sheffield, said pre-tax profit rose to 41.7m in the six months to end-September, compared to 40.9m in 2009.

The company said it benefited from reducing staff numbers by 8.6 per cent compared to the same period last year, after it anticipated the difficult market conditions caused by UK government spending cuts.

WS Atkins, which helps design big building projects such as London's 2012 Olympic site, said it expects to broaden its geographic spread following recent acquisitions in the US and Denmark and partnerships in Saudi Arabia.

Chief executive Keith Clarke said: "The scale, breadth and depth of our technical skills and our more balanced geographic footprint mean we are well positioned for future growth."

Shares in WS Atkins, which have fallen nine per cent in the last month, closed at 697.5 pence yesterday valuing the company at 714m.