British engineering consultancy WS Atkins has revealed a 12% rise in profits, beating analyst expectations.
The design and engineering group said pre-tax profits rose to £102.7 million in the year to March 31, with revenues ahead 13% to £1.49 billion.
It cited strong trading in UK segments covering rail, highway and transportation and management and project services for the boost and as a result said it was well placed to navigate the economic crisis.
Major projects for Atkins include work on London’s Olympic Park project and the £5 billion widening of the M25 motorway.
Despite this, the Epsom-based group warned that although the majority of its markets are “relatively stable”, the future of its UK building design business remains uncertain as confidence in the Middle East remains low.
In response to the economic downturn, particularly in its UK and Middle East commercial and residential property-facing businesses, Atkins shed 1,200 jobs from its workforce, which peaked at 18,600 in November.
However, it has continued to fill vacancies in its other arms of the group.
Chief executive Keith Clarke said: “We have a strong balance sheet and will continue to invest in developing the business.”
