Global construction group reports second quarter results
Global construction group Aecom has posted a drop in pre-tax profit and revenue in its second quarter results for the three months to 31 March 2014.
Aecom posted a 16% drop in pre-tax profit to $57.7m (拢34m), down from $68.7m (拢40.5m) the previous year, while revenue fell 5.9% to $1.87bn (拢1.1bn), down from $1.99bn (拢1.17bn).
The firm told shareholders full-year earnings per share will be at the 鈥渓ower end of the previous guidance range of $2.50 (拢1.47) to $2.60 (拢1.53)鈥�.
Aecom said revenue in its Europe, the Middle East and Africa and Asia construction professional technical services divisions grew year-on-year for the period, but operating profit fell.
Revenue in its management support services division declined as work with the American army reduced in Afghanistan, although the firm said the division enjoyed recent wins in 鈥渉igher margin non-Department of Defense work鈥�.
Aecom is masterplanning the Rio 2016 Olympic park (pictured).
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