maternity ermentrude: AMEC core earnings jump 25 pct on natural resources business

Friday, August 10, 2012

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

Stock Exchange.

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