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Atkins reports better six months in the UK

Atkins has seen “improved performance” in its UK business over the past six months.

The engineering consultancy told the City today that its fortunes in the UK had improved since the first half of its financial year.

Atkins was providing an update on trading for the year ended 31 March 2015, ahead of preliminary results being published in June.

In November, a restructure saw Atkins chief executive for UK and Europe David Tonkin depart, and six units merged into four divisions.

The firm said today: “The performance of our UK business has improved in the second half, against a mixed first half.

“We are pleased to have reached resolution on the contract variation negotiations in our rail business which, as previously indicated, impacted positively on our regional cash performance for the period.

“We have successfully completed the transition to our new UK operating structure, centred around four market-facing business units, with implementation effective from 1 April.

“Looking forward, while we may see a certain hiatus on decision making due to the general election, we are encouraged by the bipartisan commitment to continued infrastructure spend.”

The company said it had raised its expectation for net funds at 31 March 2015 to about £175m.

It said it expected to announce underlying full-year results in line with expectations.

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