Engineer bounces back from June's full-year loss to record interim profit of 拢42.7m
Atkins has reported a 46% profit rise in its half year results as it stages a recovery from its Metronet losses.
The engineer reported 拢42.7m pre-tax profit for the six months to 30 September, compared with 拢29.3m in the same period last year. Turnover increased to 拢633.8m from 拢569m over the six months.
The result is a welcome recovery after Atkins鈥� 拢37m full year loss in June 鈥� the company鈥檚 worst ever results under chief executive Keith Clarke 鈥� when the company wrote off its equity involvement in Metronet.
The consultant has also announced a 拢100m share buyback to strengthen its balance sheet following the resolution of the uncertainty surrounding the group鈥檚 involvement in Metronet, which was placed in administration in July.
Keith Clarke said: 鈥淭hese are very good results and we are well positioned to improve and grow in our key business of engineering and design. This is a great business in great shape which is scaleable and enduring.鈥�
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