Strong demand for services in the energy, power and process industry has buoyed Amec and the firm said ‘impact of contract deferral or cancellation across the group during the year to date has been insignificant.’
Amec has secured over £700 million of work for delivery over the next five years since July 2008. Amec also entered a transition agreement for the Sellafield contract with the UK Nuclear Decommissioning Authority in early October as part of the Nuclear Management Partners consortium.
Amec chief executive Samir Brikho said: “Demand for our services has remained strong and we are confident of delivering a margin in excess of 6.5 per cent this year. Our clients remained focused on long-term fundamentals and we continue to see a strong and diverse range of attractive prospective contracts across the business.
“Amec’s net cash position is exceptionally strong. We look to the future with measured confidence and continue to monitor opportunities for growth through selective acquisition.”