Substantial growth in the Gulf sees yearly pre-tax profit jump to £91.9m

Engineering consultant Atkins has reported a 31% rise in pre-tax profit in its full-year results, boosted by growth in the Middle East.

Atkins solar test rig in the Middle East
Atkins solar test rig in the Middle East

The company posted pre-tax profit of £91.9m for the year to 31 March, up from £70.1m in 2007. Revenue rose 11% to £1,313.6m.

Operating profit was £86.7m, up 28% from £67.7m last year.

Atkins said operating margins had jumped from 5.7% to 6.6% and that it expected further improvements in the coming year.

Group performance was boosted by substantial growth in the Middle East, where revenue rose by more than 40% on last year.

The group said: “While there is of course uncertainty about the future direction of some of the economies in which we operate, we have not seen any sign of reduction in activity.”

It added: “Our markets remain strong and as the group continues to improve its services we are confident that the Group will achieve further good progress in the year ahead.”

Revenue in its rail division slipped slightly, partly due to changes at Metronet, the group said.