Consultant says it is on track for good results, as it mulls SNC-Lavalin鈥檚 takeover offer
Takeover target Atkins is on track for good results for the financial year to last month, the firm has said in a trading update.
The London stock exchange-listed consultant, which generates around half of its 拢1.9bn revenue outside the UK, said it was continuing to benefit from the weaker pound, which was inflating profits converted from overseas.
Atkins said its major markets in the UK and North America has shown 鈥済ood progress鈥� over the full year, while market conditions in the Middle East and Asia Pacific were 鈥渂roadly unchanged鈥�. In energy, the firm said it was 鈥渆ncouraged by the early signs of stabilisation in the oil and gas market鈥�.
The firm鈥檚 expectations for its full-year results remain unchanged.
The trading update comes as Atkins considers a 拢2bn indicative takeover offer from Candian engineering giant SNC-Lavalin.
SNC-Lavalin has 35,000 staffworldwide and turned over C$8.5bn (拢5.1bn) in 2016.
The tie-up would create a 53,050-strong global firm with revenue close to 拢7bn.
Atkins has said it was ready to recommend the deal subject to certain conditions being met.
SNC-Lavalin has until 1 May to make a firm offer, .
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