UK arm of consultant returns to profit after posting 拢4.2m pre-tax loss in 2011
CH2M Hill鈥檚 UK business has reported a pre-tax profit of 拢7.5m for 2012, with revenue up 14% to 拢103m.
The 拢7.5m pre-tax profit for the year to 31 December 2013 compared with a pre-tax loss of 拢4.2m in 2011, which came after the firm wrote down a 拢6.8m investment in its Spanish and Russian businesses.
Since 2010 the firm has written down 拢12.3m in its Spanish and Russian arms, 鈥渄ue to uncertainty over future cash flows鈥�, with the two subsidiaries now valued at nil.
In its accounts, posted on Companies House, the firm reported revenue for 2012 of 拢103m, up 14% from 拢90m in 2011, while operating profit rose from 拢2.6m in 2011 to 拢7.6m.
The accounts showed remuneration for the firm鈥檚 highest paid director rose from 拢384k in 2011, to 拢707k.
The average number of monthly employees remained stable at 229.
In February the firm鈥檚 US-based parent company announced plans to invest 拢65m in its UK business and recruit 500 additional staff in the country.
The new jobs will be created across the firm鈥檚 infrastructure divisions including nuclear; transportation, tunneling and earth engineering; water; environmental services and industrial & advanced technology.
CH2M Hill is working on High Speed 2, Crossrail (pictured), Thames Tideway Improvements and the decommissioning of former fast reactor research centre Dounreay.
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