Group profit at firm falls sharply after last year鈥檚 bumper result
Engineering consultant Arup has seen a slide of nearly 拢67m in its operating profit in the year to 31 March 2011.
This year, Arup Group posted a profit of 拢24.6m compared with 拢91.3m last year. However, last year鈥檚 profit was boosted by exceptional gains of 拢80.8m from moving its pension scheme to a defined contribution model.
The UK saw the largest slide in profit - a fall of 拢63m to just 拢6.1m of pre-tax profit on turnover of 拢271.9m.
Meanwhile profit in other regions grew with Asia and Australasia the strongest performers recording profit up 36% and 17% respectively.
Philip Dilley, chairman of Arup, said: 鈥淭hese results reflect our strengths as a global player. They are in line with our forecasts for what we knew would be a challenging year. We are particularly pleased to have maintained global income levels, which underlines the fact that our clients continue to see the value we bring.鈥�
Total global turnover rose 8.7% to 拢966.4m.
鈥淟ooking ahead, economic volatility is set to persist in some markets, so the board will maintain our focus on core strategy and the bottom line so we can return value to our staff and maintain our financial strength. We remain confident in our future as we are winning high quality work worldwide, we have a robust forward order book and we remain committed to our key asset 鈥� our people,鈥� said Dilley.
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