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Atkins has seen profit increase by 22% to 拢131m for the year, up from 拢107m for last year.

The engineer also saw revenue rise by 6% to 拢1.86bn for the year ended 31 March 2016, up from 拢1.76bn.

Atkins chief executive Uwe Krueger said: 鈥淥verall, we remain confident for the year ahead despite continued uncertainty in some of our markets鈥�.

The group鈥檚 reported a good year for its UK and Europe business with the UK presenting a 鈥渉ealthy鈥� pipeline of opportunities particularly in the infrastructure sector.

But the firm said the Hendy Review into project delivery in Network Rail had resulted in some scheme delays and the extension of works programmes into the next spending control period but was encouraged by the overall increase in investment to 拢40bn.

The firm also warned that austerity measures by the government would possibly continue to slow decision making and contract awards even though the government had committed to a summer decision on airport capacity in the South-east and the parliamentary process for phase one of HS2 was in the final stages.

Atkins said its Middle East business had performed well despite cash flow challenges resulting from the depressed oil price and said it was 鈥渃autious鈥� in its outlook for the region as it expected contract awards to remain slow.

The fluctuating oil price has also impacted on the group鈥檚 Energy business, which Atkins said had faced challenges in the oil and gas markets, while its Asia Pacific arm was impacted by delays to a number of opportunities and receipts from clients beyond agreed contract terms, affecting profitability and cash flow.

Atkins said it also noticed a slowdown in Hong Kong in the funding approval for projects and increased competition. However, the firm said it is forming a new property division in mainland China.

The news follows on from the engineer鈥檚 launch earlier this week of a new consultancy business, Atkins Acuity, which will initially focus on the Middle East, South East Asia and Africa markets in Atkins鈥� core sectors of transport, energy and infrastructure.