Firm returns to profit following years of restructure and redundancies
Engineer Ramboll鈥檚 UK arm has reported a full-year profit for the first time since 2010, its latest accounts reveal.
In accounts filed at Companies House, Ramboll UK Limited reported a pre-tax profit of 拢1.3m in the year to 31 December 2013, up from a pre-tax loss of 拢6.8m the previous year.
Ramboll UK also reported a 5% rise in revenue to 拢63.7m in 2013, up from 拢60.4m in 2012.
The rise in revenue was driven by the UK arm鈥檚 international work. Revenue from outside the UK increased 85% to 拢12.2m in 2013, up from 拢6.6m in 2012.
This more than offset a 4% fall in UK revenue to 拢51.5m, down from 拢53.8m the previous year.
In the accounts Steve Canadine (pictured), managing director of Ramboll UK, said that 2013 had been a 鈥渢urnaround year鈥 for the firm and the 鈥渕odest return to profit鈥 was 鈥渁 result of strengthening commercial focus in the business鈥.
He said: 鈥淭he integration of Gifford absorbed considerable organisational effort and energy in 2011 and 2012, and now the integration aims of improving profitability, growing our order book and increasing our international portfolio are being realised.鈥
Canadine said 鈥渃onfidence鈥 in the firm鈥檚 markets had returned and Ramboll was looking to 鈥渆nlarge and strengthen鈥 its capabilities in the energy, buildings, rail, aviation and environmental markets.
He forecast that international work would grow to 28% of the firm鈥檚 workload in 2014.
The number of employees also increased dramatically to an average of 949 in 2013, up from 809 in 2012.
However, Ramboll still incurred redundancy costs of 拢58,000 in 2013, though this was substantially less than the 拢980,000 of redundancy costs it incurred in 2012.
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