Revenues rise at Atkins
By Helen Wright14 June 2012
UK-based engineering and design consultant Atkins reported a 9% year-on-year increase in revenues to £1.7 billion (€2.1 billion) for the 12 months ended 31 March, 2012, while operating profit jumped 28% for the period to £137.2 million (€169 million).
The result came despite difficult conditions in the company's domestic market. The UK division - Atkins largest business unit by revenue - saw sales drop 7.2% year-on-year to £859.9 million (€1 billion) and operating profit fall 16% to £51.6 million (€64 million).
Offsetting this, revenue and operating profit grew in all of Atkins other divisions - North America, Middle East, Europe & Asia Pacific, and Energy.
It was the first set of full-year results for Atkins' North America segment following the acquisition of construction management business PBSJ in October 2010. North American revenue was up 51% year-on-year to £421.9 million (€521 million) at the end of March, while the division's operating profit increased 54% to £21.2 million (€26.2 million).
Revenue from the Middle East was up 22% year-on-year to £171.4 million (€212 million), but the division's operating profit fell nearly 30% year-on-year to £16.8 million (€21 million). In the Asia Pacific & Europe division, revenue rose 5.3% to £163.5 million (€202 million), while operating profit was down 1.7% to £11.9 million (€15 million).
Finally, the energy division reported a 30% increase in revenue to £128.4 million (€158 million), while operating profit was up 34% to £11.4 million (€14 million).
Atkins CEO Uwe Krueger - who took the reins in June last year, replacing retiring Keith Clarke - said the company had made good progress in the last 12 months, despite the challenging economic environment.
"During the second half we continued to diversify the business, improved cash flow, reduced our pension liabilities and are returning to growth. We remain focused on driving operational excellence throughout the business to improve margins, optimise our portfolio and meet the evolving needs of our clients."