UK consultant formerly known as Faber Maunsell attributes 4% profit fall to investment in new and merged offices

Aecom Ltd, the UK consultant formerly known as Faber Maunsell, has posted a 10% rise in turnover to £203.9m from £185.6m in the year to 3 October 2008.

Pre-tax profit was down 4% to £10.9m from £11.4m in 2007, which the company said was the result of investment in newly opened and merged offices during the year.

A company statement said: “The directors are pleased to report another successful year for the company, despite the slowdown in the UK economy. As forecasters continue to predict that the recession could last through 2009, we anticipate a challenging year. In response to these changes, the company plans to rein in costs and improve efficiency.”

Faber Mausell's Peace Bridge in Derry
Faber Mausell's Peace Bridge in Derry

Turnover in the UK was £187.8m (2007: £171.1m), £13.7m (£12.2m) in Europe and £486,450 (£153,471) in the Middle East.

The highest paid director took home £225,706, 5% up on last year’s £214,288. The average pay of the 2,883 staff was £42,788.

In May, Faber Maunsell rebranded to become Aecom and bought 600-strong QS Savant to boost its presence in the former Soviet states and eastern Europe. Steve Hodkinson, the firm’s managing director of buildings in Europe, said growth on the Continent was “very much on the agenda” and would “come from a combination of acquisitions like Savant and organic growth”.