Atkins reports trading conditions in line with expectations with improved performance from UK and Europe businesses
Atkins has said its UK and European business are on course to post improved results for the first half of 2015.
In a trading update the consultancy reported that its newly-restructured UK business, now centred on four markets including transportation, water, ground and environment, was expected to “deliver an improved first half performance against a challenging trading period last year”.
The group’s energy businesses also traded well during the first half of the year although its oil and gas divisions are being squeezed due to low market prices and have been impacted by deferrals and cancellations of projects the firm said. The group has already reduced its headcount by 125 in its UK and US oil and gas operations.
Likewise Atkins’ aerospace business despite a few recent contract wins has not fared well and there have been redundancies during the first half of the year.
However, the group said it expected the first half performance to be in line with expectations supported by stable market conditions in the US and a “good” first half in the Middle East where the company is working on Saudi Arabia’s Riyadh Metro and Qatar’s Doha Gold line.
Despite the turmoil in China, the firm reported that its Asia Pacific business was trading in line with expectations and construction had begun on the 81-storey tower for Vingroup in Vietnam.