30th Jun 2005 07:02
AMEC PLC30 June 2005 AMEC plc 30 June 2005 INTERIM PRE-CLOSE TRADING STATEMENT On 18 May 2005, AMEC provided the market with a trading update to coincide withits annual general meeting. There have been no significant changes in overalltrading since the AGM and the board's expectations for overall trading in 2005(subject to IFRS restatement) remain in line with those at the time of AMEC'spreliminary results announcement in March. The board remains confident that AMECwill make further progress in 2005. Net debt Average weekly net debt in the year to date has been about £380 million, however, with the acquisition of the UK nuclear services business NNC Holdings Limited, expected in early July, this is expected to rise to some £400 million for the full year. As previously indicated, the board does expect to see capital employed in oil and gas projects decline during the second half of the year. IFRS Earlier this week, AMEC announced the restatement of its 2004 accounts and 2003consolidated balance sheet under International Financial Reporting Standards("IFRS"). AMEC will prepare its accounts for the six months ending 30 June 2005 andthereafter under IFRS. Guidance to investors is therefore now under IFRS, details of which wereoutlined in the announcement on 27 June 2005. A telephone conference call for analysts and investors will be held at 10.30amtoday when Stuart Siddall, Finance Director will answer questions on the restated financial information and the trading update. AMEC expects to announce interim results for the six months ending 30 June 2005,on Thursday 1 September 2005. Enquiries to:AMEC plc + 44 (0)20 7634 0000 Analysts/Investors:Stuart Siddall, Finance DirectorNeil Jamieson, Director of Investor Relations Media:Juliet Sychrava, Director of Corporate CommunicationsCharles Reynolds, Head of Media Relations AMEC plc is an international project management and services company thatdesigns, delivers and supports infrastructure assets for customers worldwideacross the public and private sectors. AMEC employs 44,000 people in more than40 countries, generating annual turnover of around £5 billion. AMEC's shares aretraded on the London Stock Exchange where the company is listed in the SupportServices sector (LSE: AMEC.L). Internet users will be able to view this announcement, together with otherinformation about AMEC plc, at the company's web site www.amec.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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