2:35PM UK outfit's new owner happy with integration after acquisition in August

Hill International declared its satisfaction with new buy Knowles after announcing its third quarter results last week. The firm's chairman and chief executive Irvin Richter said: "The integration of the company is proceeding well and their financial performance under Hill has exceeded our expectations."

The firm posted turnover of 拢26.3m for the third quarter of 2006. Operating profits for the period to 30 September stood at 拢1.95m. "We are pleased with our solid year-over-year growth in both revenue and profits," Richter added.

That quarter included one month of results for Knowles. For September Knowles had sales of 拢2.2m and operating profit of 拢210,000.

The incorporation of Knowles led to a 100% growth in Hills' construction claims group. Apart from that the group saw a 50% growth in its project management division and a 75% growth in its operations in the Middle East.

Source

QS News