Atkins signs off with 18 per cent jump in annual profit ahead of £2.1 billion takeover
ENGINEERING consultant WS Atkins signed off with an 18 per cent jump in annual profit ahead of its £2.1 billion takeover by Canada's SNC-Lavalin.
WS Atkins signed off with an 18 per cent jump in annual profit
The group, whose projects include HS2 and Crossrail, posted underlying pre-tax profit of £164.6 million on 11.8 per cent higher revenue of £2.08 billion and said Brexit has had "limited impact" on its major markets.
Lavalin agreed a 2080p-a-share deal to buy Atkins two months ago, which is expected to complete next month.
We delivered a strong set of results this year with underlying profit before tax improving by 18.4 per cent to £164.6 million
Chairman Allan Cook and chief executive Dr Uwe Krueger said: "We delivered a strong set of results this year with underlying profit before tax improving by 18.4 per cent to £164.6 million.
"Our underlying operating margin continued to improve and we delivered revenue growth on a constant currency basis of 4.3 per cent, underpinned by the acquisition of PP&T in 2016.
The company will be taken over by SNC-Lavalin
"We believe that the group is in a strong position to execute on its growth strategy going forward."
Atkins was established in 1938 by Sir William Atkins in London and now claims to be the UK's largest engineering and design consultancy and the second largest multidisciplinary consultancy in Europe.
It employs more than 18,000 staff worldwide.