Support services group predicts challenging year ahead
Amec saw its profit before tax fall by 34% last year compared with 2008.
In its end of year results, the support services group revealed that its profit before tax slid from 拢306.6m in 2008 to 拢203.5m in 2009.
Its revenue also dropped by 3% to 拢2.5bn.
Meanwhile, the number of employees fell by 7%, from 22,849 in 2008, to 21,193 in 2009.
In its outlook, the group admitted that it expected 2010 to be 鈥渁nother challenging year鈥�.
鈥淎lthough the level of project awards is forecast to improve in 2010 and stimulus funding is expected to be released,鈥� it said, 鈥渢he timing of both activities is likely to be back-end loaded.鈥�
Commenting on the results, chief executive Samir Brikho said: 鈥淲e believe the trading environment will remain challenging, but expect that our order pipeline will continue to improve as the year progresses. We are currently well positioned on contracts at the early stages of the project cycle and are confident this will support future growth.鈥�
The group鈥檚 order book stands at 拢3.2bn.
