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Black & Veatch UK saw profit soar, but revenue fall in 2009

Despite revenue shrinking by approximately 20% in 2009, the UK subsidiary of Kansas City-based water specialists Black & Veatch recorded a surge in profit.

21-Jun-10  Financial accounts for the year ending 31 December 2009 show that while B&V's UK company generated a turnover of £276.4 million in 2009, compared to £347.4 million the previous year, it was nevertheless able to move from a post-tax loss in 2008 of £5.8 million to a post-tax profit of £15.7 million. This turnaround was achieved in large part thanks to about £80 million being shaved from B&V's cost of sales. No...