M&E group says full year results are in line with expectations with earnings reaching 鈧�157m
International M&E group Imtech said full-year results were in line with or higher than expectations and it will grow further this year.
Its full-year earnings before the deduction of interest, tax and amortisation (EBITA) was 鈧�157m (拢118m) compared with 鈧�13.3m (拢85.4m) in 2006 on sales of 鈧�3.3bn (拢2.5bn) up from 鈧�2.9bn (拢2.2m) the previous year.
The operational EBITA margin came in at 5.1%, up from 4.5% in 2006.
In the UK, Ireland and Spain EBITA rose 27% to 鈧�28.5m and sales increased 25% to 鈧�417m (拢15m). The EBITA margin rose from 6.7% to 6.8%. mtech said further growth was expected due to the 2012 Olympic Games.
It said growth continued in Belgium and Luxembourg with signs of recovery in the Netherlands. Growth was high in Germany and Eastern Europe due to increasing export by the German industrial sector and the company said it would focus on this area.
Imtech said outlook was good for the year ahead because the quality of its order portfolio had improved. Last month the company reported the order portfolio grew 27% to 鈧�3.7bn in 2007.
The company said it remains focused on further growth. 鈥淎ccording to its current views, in 2008 the board of management expects a further increase of the EBITA through organic growth and acquisitions.鈥�
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