Full year revenue rises 5% as company puts chief executive Neil McArthur forward for re-appointment
Strong results from UK and European operations helped Arcadis grow revenue 5% to 鈧�2.6bn (拢1.9bn) in the year to December 2014 despite tough market conditions in North America.
The rise was attributed to a particularly strong final quarter of 2014, with revenue up 26% to 鈧�808m (拢596m), up from 鈧�643m (拢474m) the previous year.
The parent company of EC Harris and Hyder said 1% of its growth over 2014 came organically, with the remaining 4% from acquisitions.
Operating profit grew 11% to 鈧�123.6m (拢91.4m) for the year.
Arcadis hailed the 鈥渟trong鈥� contribution of its UK and European operations, but said its North America business had been buffetted by 鈥渃ontinued tough market conditions鈥�.
Arcadis said there was a positive outlook for the UK infrastructure market, with increased government spending expected, and a boost in infrastructure spending in continental Europe. In the office and corporate market, the company said in a statement: 鈥淪trong growth is expected to continue in Asia and the UK resulting from strong capital expenditure by big urban clients.鈥�
The firm also announced current chief executive Neil McArthur (pictured) has been put up for another four year term in the role, with the proposed re-appointment to be put to shareholdersfor approval at a general meeting in May.
Speaking about the results McArthur said: 鈥淣orth America has underperformed versus expectations during 2014, however, we have started to implement a new market model, evolved the operating model, made leadership changes and are confident to see a return to growth in 2015.
鈥淲ith respect to collaboration, our pan-European operating model has demonstrated its effectiveness, as we improved the operating margin from 3.2% to 10.2% in just 18 months.鈥�
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