Global construction group reports second quarter results
Global construction group Aecom has posted a drop in pre-tax profit and revenue in its second quarter results for the three months to 31 March 2014.
Aecom posted a 16% drop in pre-tax profit to $57.7m (£34m), down from $68.7m (£40.5m) the previous year, while revenue fell 5.9% to $1.87bn (£1.1bn), down from $1.99bn (£1.17bn).
The firm told shareholders full-year earnings per share will be at the “lower end of the previous guidance range of $2.50 (£1.47) to $2.60 (£1.53)”.
Aecom said revenue in its Europe, the Middle East and Africa and Asia construction professional technical services divisions grew year-on-year for the period, but operating profit fell.
Revenue in its management support services division declined as work with the American army reduced in Afghanistan, although the firm said the division enjoyed recent wins in “higher margin non-Department of Defense work”.
Aecom is masterplanning the Rio 2016 Olympic park (pictured).