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City backs Atkins confidence

Consultant Atkins is confident of outperforming market expectations, in a trading statement issued today, which saw shares in the firm surge by almost 4% in early trading.

The confident news comes on the back of a large contract win for the group, for architecture and engineering design at the International Thermonuclear Experimental Reactor (ITER) nuclear fusion site at Cadarache in France.

Atkins is part of the Engage consortium, with French companies Assystem and Iosis and Spanish firm Empresarios Agrupados for client Fusion 4 Energy (F4E).

The contract is worth £132M (€150M), for detailed design for ITER buildings as well as the site infrastructures and the distribution of the power supplies. More than 230 engineers and designers are expected to work on the contract.

Atkins’ energy managing director, Martin Grant, said: “ITER ranks as one of the most technically challenging projects the world has ever seen and it must be delivered to a time-critical schedule.

“This is a remarkable opportunity for Atkins to showcase its engineering and management skills on the world stage and, together with our partners we are now at the centre of a scheme that will pull engineers together across country, company and skills boundaries.

“As members of the Engage consortium we will be involved in all stages of the design and construction of the ITER complex, providing civil, structural and mechanical engineering, together with commercial management through our cost consultants, Faithful+Gould. Atkins has been involved in the nuclear sector for nearly half a century, and with over 1500 people with nuclear skills we are one of the most experienced and well-resourced consultancies in the UK. As nuclear power is set to play a more important role in the delivery of world energy supplies, Atkins is well positioned to provide engineering expertise to the sector,” he said.

Shares in Atkins rose 23 to 672p in early trading.

Readers' comments (2)

  • Good to read a positive story affecting the UK economy for a change. Well done Atkins.

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  • RFP

    Good to see that Akins arent cutting jobs wholesale across the board.

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