AMEC trading in line despite mining slowdown
Engineering consultancy AMEC said it was trading in line with expectations despite ongoing economic uncertainty.
Engineering consultancy AMEC said it was trading in line with expectations despite ongoing economic uncertainty.
The firm said mining activity was slowing, but conventional oil and gas activity remained strong, particularly in the North Sea and Gulf of Mexico.
Its order book was £3.6bn at the end of October, compared to £3.3bn the previous year, and down slightly from £3.7bn in June.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"We are on track to deliver double-digit underlying revenue growth for the full year and we expect to deliver good growth in 2013," said Chief Executive Samir Brikho.
"We continue to target EPS of greater than 100 pence before 2015."
Net cash at the end of October dropped to £124m after share and acquisition-related outflows.
This compared with £430m the previous year and £290m in June.
The company added that the integration of two recent acquisitions was on track - Serco's 600-person nuclear Technical Services business and Unidel, a 260-person energy, resources and infrastructure engineering and consultancy business in Australia.
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Barclays begins paying up to £100 compensation to customers after banking outage
Barclays will pay up to £7.5 million in compensation to customers after its banking services were disrupted by an IT outage
By Daniel Hilton Published
-
Review: Shangri-La Paris – an ode to the world’s best food
Natasha Langan enjoys fine French and Chinese cuisine at the Shangri-La Paris
By Natasha Langan Published