AmecFW posts H1 profit, Australia contract

LONDON, August 10, 2017 – Amec Foster Wheeler said on Thursday it had made GBP 77 million in profits before tax during the first half of the year, up from a loss of GBP 446 million a year earlier.

“Operational discipline has improved, we have more than delivered on our cost saving targets and we have also seen the first tangible signs of sustainable growth: in the retained operations, trading margin is up 180 basis points compared to H1 last year with a 2% increase in the order book since the year end,” CEO Jonathan Lewis said in a statement.

The news came as the UK-based engineering giant said its joint venture Clough AMEC had achieved a “major breakthrough into [the] Australian petrochemicals sector” with a contract to maintain two ammonia plants in Western Australia, Yara Pilbara Fertilisers and Yara Pilbara Nitrates. The value of the deal was not disclosed.

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