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Atkins shed staff as transport cuts hit profits

An 11 per cent fall in pre-tax profits has forced engineering design and consultancy giant Atkins to shed over 900 jobs.

Severe delays in contractual awards saw the company’s rail sector suffer a 16.3 per cent drop resulting in a 10 per cent cut in staff.

Highways and transport was also hit with a higher volume of lower margin services accounting for a two per cent boost in revenue but a 42.5 per cent fall in operating profit.

The group’s overall pre tax profit for the six months to 30 September was £38.7 million, down 11 per cent from £43.5m in the same period last year.

Overall revenue was down 5.3 per cent to £664.2m from £701.2m last year.

Staff numbers fell from 16,235 to 15,329.

Atkins chief executive Keith Clarke said the overall results were good in the face of a challenging market that has seen the group acquire new businesses abroad in a bid to spread its risk.

He said: “These good results demonstrate our resilience as we have continued to perform in challenging conditions.  We have anticipated difficult markets and continue to take timely action to ensure we are in the best position to respond to our clients’ changing needs.  The scale breadth and depth of our skills and our more balanced geographic footprint mean we are will positioned for future growth.”

 

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