Arcadis expects strong year post-Hyder purchase
Consultancy firm expects sales and profits for 2015 to increase "significantly"
Construction consultancy group Arcadis has said that it expects 2015 revenues and profits to "increase significantly" following its recent acquisition of Hyder Consulting for $483.3m.
The company, which also owns cost and project management consultancy EC Harris, has just reported a 5% increase in revenues for 2015 to $3bn, although net profit declined by 5% to $104.5m.
Arcadis said that following its acquisition of the 4,600-strong Hyder Consulting organisation, and the US-based architectural design practice Callison, its project backlog had increased by 41% - although only 7% of this was due to organic growth, with the rest a result of acquisitions and shifts in currency values.
The Netherlands-based group said it expects strong growth in the buildings sector, with major urban clients expected to increase spending in both the Asian and European markets. It added that given the uncertainty surrounding oil prices, growth in the Middle East is expected to be country-specific, but added that opportunities remain "favourable".
CEO Neil McArthur, who has just been voted in for a second, four-year term, said: "With our strong market positions, strategic progress, recent acquisitions, and record backlog, we expect 2015 revenues and profit to increase significantly."