黑洞社区

Engineering consultant Arup has reported a 69% rise in full-year profit and said it is in a 鈥渟trong position鈥� to weather the economic storm ahead.

The group posted profit before tax and profit share of 拢81m for the year to 31 March, up from 拢48m in 2007. Turnover for the period was 拢726m, up from 拢572m last year 鈥� a rise of 27%.

Arup said it has cash reserves of more than 拢100m, up 54% on last year, and its profit margin is 11%.

But chairman Terry Hill said there are 鈥渟igns of weakness鈥� in some of the firm's markets and it has seen 鈥渟low-downs, occasional project cancellations and a small increase in the working capital cycle鈥�. In the US, turnover fell 20% to 拢61m, down from 拢76m in 2007.

The UK remained the strongest region, making 拢343m, compared with 拢275m last year, and accounting for almost 50% of the firm's turnover.

Our reserves are substantial, we have no borrowings, and the fact that we are privately owned means that we have no share price issues to distract us

David Whittleton, commercial director

The second strongest regional market for the firm was East Asia, where turnover was 拢109m, up 24% from 拢88m in 2007.

Turnover in Africa and the Middle East, which was included in the results for Europe last year, was 拢33m. In mainland Europe, the figure was 拢81m, up 27% from 拢64m in 2007.

Group commercial director David Whittleton said: 鈥淥ur reserves are substantial, we have no borrowings, and the fact that we are privately owned means that we have no share price issues to distract us from our focus on delivering high-quality services and securing work for the long-term sustainability of the firm.

鈥淐onsequently, as we enter a more challenging economic period we are in a strong position not only to weather the storm but to continue our strategy of organic growth.鈥�