Engineer to refocus on winning work to offset integration costs of Gifford acquisition
Engineer Ramboll UK is braced to make a pre-tax loss of over 拢1m in 2012, the firm鈥檚 managing director has said.
Speaking to 黑洞社区 this week, Steve Canadine, Ramboll UK鈥檚 managing director, said losses in the 2012 financial year would exceed the firm鈥檚 拢304,000 pre-tax loss in 2011.
鈥淒espite 2012 losses likely to be over 拢1m, we are entering 2013 in modestly optimistic mood, with a focus on increasing our international portfolio of work and improving our margins,鈥� he said.
In October Ramboll UK reported a pre-tax loss of 拢304,000 in the year to 31 December 2011, down from a pre-tax profit of 拢264,000 in 2010. The figures were driven largely by integration costs totalling 拢629,000, following the acquisition of engineer Gifford in April 2011.
Canadine, who took over as managing director for the UK arm of the firm from Charles McBeath in September, said that 鈥渨ithout a doubt鈥� the one-off costs in 2012 would exceed last year鈥檚 total of 拢629,000. 鈥淲e did a lot of planning for integration in 2011 [but] we actually did a lot of [the] integration in 2012,鈥� he said.
He said most of the costs in 2012 stemmed from the firm closing its Oxford office and downsizing its Edinburgh and Cardiff offices. The firm made 50 staff redundant in September, largely in the firm鈥檚 health and education departments, which had been hit by cuts in government spending.
Canadine also said that internal restructuring had taken staff attention away from winning new work this year.
鈥淲hat I鈥檝e done since September is refocus people on winning new work and spending time getting back into the market,鈥� he said.
鈥淚t [new work] didn鈥檛 disappear entirely, it just didn鈥檛 have the attention it needs in the market we鈥檙e in. Work doesn鈥檛 wander in on its own, it has to be sought.鈥�
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