Profits at the firm formerly known as Faber Maunsell fell 40% last year owing to what the company called the “tough economic environment”
The figure fell from £10.9m to £6.6m in the year ending 2 October 2009 although turnover fell only £6m to £198m.
On 4 May last year the company was rebranded under its parent’s Aecom name and on 3 October it merged its operations with architect EDAW and QS Savant.
Aecom, the £4.3bn-turnover Los Angeles-based multidisciplinary consultant, bought Faber Maunsell in 2002.
The figures come as many of its peers have reported falling profit margins.
A company statement said: “A tough economic environment has led to customer delays in projects and a fall in average turnover by technical staff. As forecasters continue to predict that the recession could last through 2010 the directors anticipate a challenging year.”
The main markets for the firm, the UK and Europe, both declined in turnover, although the business increased sevenfold in the Middle East (see box).
The results come as the global consulting giant is poised to take over UK consultant Davis Langdon, whose Europe, Middle East and Africa division was expected to vote on the proposed takeover this month.