Arup's British revenues fall 9 per cent
Friday 16 December 2011
The engineer Arup offset a slowdown in business at home by picking up more work in Asia and America.
The company suffered a 9 per cent decline in British revenues last year despite working on projects including the High Speed 2 railway link from London to Birmingham and the ArcelorMittal Orbit, the observation tower at the Olympic Park in London. Operating profits of £24.6m fell from £91.3m the year before, when Arup benefited from a £81m pension credit.
The engineer has opened new offices abroad, where its projects include the creation of an international finance centre in Guangzhou, which is set to be the tallest tower in southern China.
Arup's 10,000 staff, who own the company, will split a £21.5m pot. It was put into a trust in 1970 by the company's founder, the Danish architect Sir Ove Arup.
"Looking ahead, economic volatility is set to persist in some markets, so the board will maintain our focus on core strategy and the bottom line so we can return value to our staff and maintain our financial strength," said Arup's chairman, Philip Dilley.
Global income rose 9 per cent to £966m, helped by the integration of Arup's South African business into the consolidated group.
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