Faber Maunsell parent posts solid Q1 results

The US professional support services giant Aecom shows no outward signs of weakening performance, announcing a 34.6% increase in revenue to £1.45 billion for the first quarter of fiscal year 2009 (which ended 31 December 2008) and a backlog of $9.0 billion.

Revenue from the professional technical services segment (which includes planning, environmental consulting, architecture, engineering design and construction management services) rose 38% to $1.23 billion compared to the same period last year. Operating income jumped 44% to $76.9 million, equating to a gross profit margin of 6.0%.

“Our solid first-quarter results reflect the benefits of AECOM’s diversified global business model,” said John Dionisio, Aecom's president and chief executive officer. “During the quarter, we continued to expand our business in spite of a slowing demand in some of our commercial and private facilities markets. Overall, we saw continued strength and growth in our US businesses as well as our non-US operations. Looking forward, we believe that AECOM is well positioned to benefit from the implementation of stimulus programs around the world.”

“We saw continued demand for our services globally throughout the infrastructure market, and this was reflected in our backlog growth during the quarter,” adds Mr Dionisio.

There was no mention in the financial statement of staff redundancies despite persistent rumours of cutbacks among the Aecom-owned Faber Maunsell environmental and consulting engineering business in the UK (see EA article, 15-Jan-09).

• Aecom news release
• Aecom annual report 2008 (year ending 30 Sep)