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Aecom's profit down but revenue up in 2011

Fallout from Libya operations reduces consultant Aecom’s net income by 2% to $59M (£36M), but over operating outcome is up 5% from 2010 levels according to it’s second quarter results for 2011.

International consultant Aecom unveiled its second quarter fiscal results today reporting a 2% drop in net income to £36M. During the quarter, Aecom pulled out of Libya, but increased its operating income in the quarter to £52M, 5% higher than the same period last year.

Aecom’s second-quarter revenue was £1.15bn, a 21% increase from the second quarter of fiscal year 2010. Excluding the impact of Libya, organic revenue, net of other direct costs, increased 4% year on year.

“Our significant organic backlog growth and increase in cash flow point to continued improvements in our markets,” said Aecom executive vice president and chief financial officer Michael S. Burke.

“An improving global business environment and our exposure to high-growth emerging and natural resource-rich markets, provide us with confidence to increase our guidance for fiscal year 2011.”

 

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