United States consultant Aecom’s net profits fell 20% drop in income in the first quarter of 2013 compared to the same period of 2012.
The consultant attributed the decrease from $48M (£30.6M) to $38M (£24.3M) to a slowdown in Australia’s mining industry, and its subsequent effect on its Australian business.
“As expected, our results were negatively impacted by actions we took in Australia to align our business against the backdrop of a country-wide slowdown in mining.” Aecom chief executive John M.Dionisio said. “Excluding Australia, operating income margins in our professional technical segment were up”.
Aecom has also announced plans to buy back almost £320M in shares. This follows buy-backs of £278m since 2011.