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| Fugro expects profit increase Dutch engineering consultancy Fugro expects to realise a revenue of more than EUR 2.1 billion (2007: EUR 1.8 billion) for the full year 2008. Barring unforeseen circumstances the net result is expected to be at least EUR 275 million (2007: EUR 216 million), which means an increase of more than 27% compared to last year. This leads to an increase of the net profit margin to more than 13% (2007: 12%). The increase in revenue of nearly 20% compared to last year is largely the result of organic growth. Despite the recent increased rate of exchange of the US Dollar, the foreign currency effect over the full year will be approximately 7% negative as a result of the on average lower rates of exchange of the US dollar and the UK pound against the Euro. This will partly be compensated by an increase in revenue from acquisitions by approximately 4%. All three divisions are contributing to the growth in revenue and result, with the strongest increase being in the Geoscience division. As in the first half year, the demand for Fugro's services remained strong during the past few months. This is also reflected in a strong order backlog for the coming period. In volume, the order backlog has increased by 20% compared to one year ago. write your comments about the article :: © 2008 Construction News :: home page |