EC Harris helps boost Arcadis building revenues by 84pc
EC Harris has helped boost building revenues at parent company Arcadis by 84 per cent in the first half of 2012.
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Group net income from operations was 28 per cent higher than last time at €23.6m (£18.6m).
Building revenue surged by 83 per cent – mainly as a result of EC Harris - with a strong performance in the retail, banking and aviation sectors in France, Belgium, and the UK, but a heavy decilne in the public sector.
The UK consultancy also boosted infrastructure revenue by 11 per cent and water by 3 per cent.
Arcadis said: “In the first half year, the integration with EC Harris in the UK and Europe was fully designed and planned. Integration investments will continue in the second half of 2012, supporting higher profitability of EC Harris in 2013.”
Arcadis expects revenues to climb by another 20-25 per cent in 2012.
CEO Neil McArthur: “We had a good second quarter, although organic growth slowed due to softer conditions in the mature markets reflecting the general economy. Our well-diversified portfolio, both geographically as well as by business line, helps to offset some of these local market pressures.
“The profitability of our existing business improved, despite a one-off charge in Poland. The integration with EC Harris is going well and we are on track to meet the targeted margins. In Asia, the combination with L&S is already yielding synergy effects.”