29th Jul 2015 07:42
LONDON (Alliance News) - Design, engineering and project management consultancy WS Atkins PLC on Wednesday said it traded in line with its expectations in the first quarter of its financial year and said its full-year outlook remains positive.
Atkins said its newly-combined transportation business in the UK traded well in the period but said it is continuing to monitor its aerospace business to ensure it remains appropriately-sized compared to the market opportunity. It has made further staff reductions to the aerospace business since the start of its current financial year.
In North America, Atkins said market conditions have remained stable, but its Middle East business has seen a good start to the year, with a number of significant projects handled including the Riyadh Metro in Saudi Arabia.
Asia Pacific trading was in line with expectations in the quarter, while its energy business traded well, despite some pricing pressure and project delays and cancellations for its oil and gas-focused business. It thinks the energy business will meet its expectations for the year but is likely to take a margin hit in the first half.
Atkins shares were up 0.9% to 1,552.00 pence on Wednesday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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