Arcadis implementing covid ‘contingency plans’
Arcadis is implementing covid “contingency plans” and says the pandemic impacts will be “difficult to predict”, as it revealed a fall in turnover and profit in 2019.
Turnover in the year to 31 December 2019 fell to £174m, down from £200.3m the year before. Profit for the year before members’ remuneration and profit share was £20m, down from £24m the year before. The firm’s adjusted operating margin was 16.6% (up slightly on 16.5% in 2018).
Arcadis said the lower annual turnover was due to “an increase in the amount of work on contracts delivered by other entities in the UK group”.
In its buildings division, it supported clients as they reviewed their assets and looked to maximise returns, with the firm undertaking a “large number” of transaction advisory services as investment in the city of London continued. Outside of London, the “levelling up” agenda provided more work in Birmingham and Manchester.
Arcadis has also been providing services for some of the major energy networks, including SSE and Cadent, and nuclear work with Magnox and Horizon Nuclear Power.
Its net current assets as of the end of 2019 were £14.2m, down from £18.1m in 2018.
Arcadis added: “We are monitoring the covid-19 outbreak developments closely and have been implementing contingency plans to mitigate the potential adverse impact on the UK group’s employees and operations.”