Aug 9 (Reuters) - British engineering company AMEC Plc
said first-half core earnings rose 25 percent, boosted
by strong revenue in its natural resources business, and raised
its interim dividend.
AMEC, which designs and builds infrastructure for the oil and
gas, mining, nuclear and renewable energy sectors, said though
it expects underlying revenue growth in the second half to be
significantly lower than the first half, it was on track to meet
double-digit underlying revenue growth in 2012.
AMEC posted earnings before interest, tax and amortisation
(EBITA) of 152 million pounds ($238.03 million) for the first
half as against 122 million pounds a year earlier.
Revenue was up 37 percent at 2.13 billion pounds, helped by
a 52 percent growth in the natural resources business that
contributes about half of its overall revenue.
AMEC, which serves customers such as BP Plc,
ArcelorMittal and GDF Suez, said its order
book stood at 3.7 billion pounds, marginally ahead of 3.4
billion pounds last year.
The company raised its interim dividend to 11.7 pence per
share from 10.2 pence.
AMEC shares, which have risen 17 percent since the beginning
of the year, closed at 1159 pence on Wednesday on the London
- Investment & Company Information