Aecom returns to a full-year profit and reports 鈥渟olid growth鈥� in Europe

Steve Morris

Aecom鈥檚 European chief executive Steve Morriss

Aecom has returned to a full-year profit, as it reported 鈥渟olid growth鈥� in its European division.

The US-based global construction group reported a $239m (拢150m) profit for the year ended 30 September 2013, after posting a $58.6m (拢36.9m) loss the previous year.

Aecom did not disclose further detail on its European business, which includes the former Davis Langdon business, but the division鈥檚 growth will be welcome after writedowns on European acquisitions last year led to an overall 拢200m writedown.

Revenue was down 1% to $8,153m (拢5,123m), from $8,218m (拢5,164m) the previous year.

Aecom chairman and chief executive John M. Dionisio said the firm had benefited from increased revenue and profits from emerging markets, as well as three acquisitions in Africa, Eastern Europe and Southeast Asia.

However, like Balfour Beatty last week, Aecom said its Australian business was contributing lower profits.

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