|
contents | business | |||||||||
| Arcadis results better than expected Dutch engineering and consulting firm Arcadis in the third quarter of 2009 produced net income from operations of € 18.2 million, 12% more than last year. Gross revenues increased 10% to € 470 million, also as a result of the merger with Malcolm Pirnie early in July. Organic gross revenue decline stabilized at 7%. Continued infrastructure growth was offset by an increased decline in buildings and a clearly reduced decline in environment. The better than expected results were achieved by excellent performance in infrastructure and environment, keeping the margin above 10%, while Malcolm Pirnie also contributed well. As a result of a weaker U.S. dollar the currency effect on revenues and profits was limited. In the first nine months, gross revenues increased by 4% to € 1.3 billion aided by a positive currency effect of 3%. Due to the recession, gross revenues declined organically by 5%. The decline in environment and buildings was partially compensated by growth in infrastructure. Net income from operations increased 6% to € 50.8 million, despite restructuring charges of € 7.6 million. Good working capital management resulted in strong cash flow. write your comments about the article :: © 2009 Construction News :: home page |