Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Clarke vows to fight on following arbiter's criticism

News

ATKINS HAS said that will not run away from its role in Tube contractor Metronet, despite the venture costing the firm £1.4M in profit.

Chief executive Keith Clarke insisted that the firm's principal objective with Metronet was to enter into the next review period successfully with London Underground.

Clarke said he was 'totally happy' that all Metronet's shareholders were supportive of the management team, which includes him as chairman.

He was speaking after Atkins' interim results for the six months to 30 September showed profit before tax overall up 10% on the same period last year to £30.9M. Revenue was also up 17% to £605.5M.

But the results also showed that continued problems with Metronet contributed to a £1.4M reduction in profit before tax compared with the same period last year.

The results announcement came a week after Tube PPP arbiter Chris Bolt cited a catalogue of failings within Metronet that have resulted in it spending four times more than planned on station upgrades (News last week).

Bolt made it clear that management failings at the highest level are the main cause and suggested that the consortium be led by an individual independent of the shareholders.

However, Clarke said that improvements made over the past 12 months would begin to reap dividends.

'Whether we like it or not, turning around something the size of Metronet takes a long time.

'The arbiter's report was expected. But we are not running from the problems or giving up and saying it is all too diffi cult. We are putting the best people in - the chief executive even.

'The effort is not inconsiderable, but is what we think appropriate for a major client, for our shareholders and for where we are taking Atkins, ' he said.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Please note comments made online may also be published in the print edition of New Civil Engineer. Links may be included in your comments but HTML is not permitted.