OVE ARUP'S 4,000 staff will share some £4.9M of the firm's £7.3M profit for 1997 - a result up by 30% from last year despite lower than expected returns from other overseas work.
International profitability was hit by increases in the value of the pound. The annual report shows that while Arup's international fee income increased by 7% in local currency terms, this only resulted in a 1% increase after conversion into sterling.
Arup chairman Duncan Michael said in the report: 'Due to the currency shifts, the results in Germany for example became apparently smaller while the profits on deutschmark contracts executed outside Germany became losses for the period.'
Results for 1997 show that Arup increased profits to £7.3M from £5.6M last year, with turnover up to £188M from the £179M figure reported in 1996. Arup has orders worth £204M of which £141M is due to be delivered this year.
New acquisitions and growing facilities management workload boosted results reported by WS Atkins just before Christmas. Pretax profits increased to £12.7M from £10.7M while turnover increased from £153.3M to £175.3M.