EC Harris鈥� parent company increases underlying profit by 5% in first quarter
Global engineering group Arcadis has posted a 5% rise in underlying profit for the first three months of the year and predicted its UK business, which includes consultant EC Harris, will 鈥渃ontinue to do well鈥� this year.
The firm posted a 5% rise in underlying profit to 鈧�41.6m (拢34.3m) for the first quarter, up from 鈧�39.6m (拢32.6m) the previous year, while revenue declined 2% to 鈧�588m (拢484m), down from 鈧�602m (拢495.6m).
Arcadis, led by chief executive Neil McArthur (pictured), said its operating margin increased to 9.6%, up from 9.2%.
The firm said 鈥渂arring unforeseen circumstances鈥� it expects to increase revenue and profit in 2014.
The firm added: 鈥淲e are experiencing an overall positive start to the year and expect Emerging Markets and the UK to continue to do well and foresee a gradual return to growth in Europe. In North America, we expect a recovery in the second half of the year.鈥�
In the first quarter the firm said it benefited from 鈥渟trong growth鈥� in emerging markets 鈥渨ith Asia and the Middle East doing particularly well鈥�, while 鈥渢he UK also performed well and revenues stabilised in Continental Europe鈥�.
Arcadis said its Latin America division was held back by a decline in the Chilean mining market.
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