UK consultant formerly known as Faber Maunsell attributes 4% profit fall to investment in new and merged offices
Aecom Ltd, the UK consultant formerly known as Faber Maunsell, has posted a 10% rise in turnover to 拢203.9m from 拢185.6m in the year to 3 October 2008.
Pre-tax profit was down 4% to 拢10.9m from 拢11.4m in 2007, which the company said was the result of investment in newly opened and merged offices during the year.
A company statement said: 鈥淭he directors are pleased to report another successful year for the company, despite the slowdown in the UK economy. As forecasters continue to predict that the recession could last through 2009, we anticipate a challenging year. In response to these changes, the company plans to rein in costs and improve efficiency.鈥�
Turnover in the UK was 拢187.8m (2007: 拢171.1m), 拢13.7m (拢12.2m) in Europe and 拢486,450 (拢153,471) in the Middle East.
The highest paid director took home 拢225,706, 5% up on last year鈥檚 拢214,288. The average pay of the 2,883 staff was 拢42,788.
In May, Faber Maunsell rebranded to become Aecom and bought 600-strong QS Savant to boost its presence in the former Soviet states and eastern Europe. Steve Hodkinson, the firm鈥檚 managing director of buildings in Europe, said growth on the Continent was 鈥渧ery much on the agenda鈥� and would 鈥渃ome from a combination of acquisitions like Savant and organic growth鈥�.
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