Amey predicts that sterling will help make 2009 a 'record-breaking year'

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The Independent Online

Amey, the Spanish-owned group upgrading the London Underground, is heading towards £2bn in revenue this year, which would make it one of the top 10 construction and housebuilding firms in Britain. In accounts filed at Companies House, it reported that its revenue had grown to nearly £1.5bn in 2008, though pre-tax profit fell 25 per cent to £78.28m.

Mel Ewell, Amey's chief executive, said profit had declined though the pound's weakness against the euro. But the pound's relative strength in 2009 would boost results this year while at least £200m had been secured in recent contract wins. Amey was awarded a £2.7bn contract last week to maintain Birmingham's roads, one of several reasons, he said, why 2009 will be a "record-breaking year".

Amey's Tube Services which manages its investment in Tube Lines, responsible for maintaining and renovating three of London Underground's lines, had a revenue of £548.8m and an operating profit of £38.4m in 2008.

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