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Hill International reports 20% drop in Q1 revenues

Hill’s lower consulting fee revenue was driven primarily by declines of 36.7% and 41.5% in its Middle East and Latin America operations, respectively

This image is for representation purposes only.
This image is for representation purposes only.

Construction consultancy firm, Hill International, has announced that its total revenue for the first quarter of 2017 was $107.6m, a decrease of 19.9% compared to the first quarter of 2016. 

Consulting fee revenue for the first quarter was $95.9m, a 17.7% decrease from last year's first quarter, a company statement said.

Lower consulting fee revenue was driven primarily by declines of 36.7% and 41.5% in Hill's Middle East and Latin America operations, respectively, partially offset by an increase of 16.9% in the US operations.

Operating loss for the first quarter was $500,000 compared to an operating profit of $2.7m in the prior year's first quarter. 

Net loss from continuing operations was reported as $1.4m, compared to net earnings from continuing operations of $2.3m during the prior year's first quarter. 

Net loss from discontinued operations for the first quarter was $5.7m, compared to a net loss from discontinued operations of $900,000, in the first quarter of 2016. 

Net loss for the first quarter was $7.1m compared to net earnings of $1.5m, in the first quarter of 2016. 

Earnings before interest, tax, depreciation, and amortisation (EBITDA) for the first quarter was $1m compared to EBITDA of $4.6m in the first quarter of 2016.

Unusual expenses totalling $1.7m, adversely impacted Hill's profitability during the first quarter of 2017, according to the company statement.

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