Amec grows profit by 25pc

City A.M. Reporter
ENGINEERING company AMEC said core earnings rose 25 per cent in the first half, boosted by strong revenues from its natural resource business.

AMEC expects growth to taper off in the second half, but said yesterday it aims for double-digit revenue expansion over the full year.

Earnings before interest, tax and amortisation rose to £152m for the first half against £122m a year earlier. Revenue jumped 37 per cent to £2.13bn, helped by a 52 per cent expansion in the natural resources business, which accounts for nearly half of total sales. AMEC also raised its interim dividend to 11.7p.