But globally Danish engineer sees pre-tax profit drop
Double-digit growth in the UK helped Ramboll to a relatively strong first half performance.
The global engineering consultancy reported revenue of DKK 8.4bn (£960m) in its interims, published this morning, an increase of 7.1% on the first half of 2022.
While the UK business accounted for just £91.3m of the Danish firm’s global revenue, it posted an impressive 21% revenue growth in HY23 and increased its headcount by 10% to 1,500.
Ramboll’s UK managing director, Philippa Spence, said: “Faced with the pressures of inflation, which has limited economic growth and had a direct impact on planned infrastructure investment, we have been well placed to navigate the market conditions thanks to our business mix and focus on sustainability.
“Our success is grounded in Ramboll’s commitment to our people and empowering them to innovate, which is driving systemic changes in how we deliver sustainability for our clients. Not only is this creating positive outcomes for our client’s projects, but for nature, society and our people”.
Despite strong revenue growth in the UK, Germany and Ramboll’s native Denmark, global pre-tax profit was nonetheless down 17% from DKK 305.5m (£35.1m) in HY22 to DKK 252.7m (£29m) this year.
>>See also: McAlpine fills engineering director role
>>See also: Bam’s UK income holds up despite 10% fall in overall revenue
Group chief executive Jens-Peter Saul praised Ramboll’s energy business – which delivered the highest growth among the firm’s business units – for its “increased focus on the green energy transition”.
Ramboll anticipates its full-year profit margin to remain in line with last year’s and high organic growth on the back of a strong order book, which currently stands at more than seven months of secured revenue corresponding to DKK 8.5bn (£980m).
No comments yet