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| Arcadis shows solid performance in 1Q 2011 Arcadis, the international consultancy, design, engineering and management services company, has delivered a solid performance in the first quarter of 2011. Gross revenues rose 4% to € 465 million. Organic growth, which returned last year, continued and came out to 3%. The United States environmental market and the markets in South-America and Asia show strong growth with good margins. This is offset by a decline of activities in Europe due to reduced spending by mainly local governments. Net income from operations rose 8% to € 18.5 million. During the first quarter, urban planning firm Witpaard (30 employees) was sold in the Netherlands. Also in the Netherlands, an agreement was reached to sell the 50% interest in Arcadis Aqumen Facility Management (AAFM, 360 employees). In light of the recently revised strategy AAFM was no longer seen as a core activity, also due to the limited amount of synergy it yielded. Per year-end 2010 this participation was deconsolidated. The sale is expected to be finalized during the second quarter of 2011 with an anticipated gain of € 7 million. write your comments about the article :: © 2011 Construction News :: home page |