Amey has announced increased profits and continued growth in all market segments. The group’s turnover rose by 34% to £700m (£523m) and pre-tax profits increased by 37% to £39.3m (£28.7m). Its forward order book reached a record £3.5bn.

Commenting on the results, chairman Neil Ashley, said: "During the last twelve months, the Group has made more progress than at any time in its history. Our strategy, to become one of the UK's leading providers of business process outsourcing services, has reached a level of maturity which has allowed us to participate more fully than ever before in the rapidly growing markets we serve. “

“The Group has experienced a significant upsurge in the volume of large-scale PFI and PPP opportunities for which it is bidding, with a commensurate increase in bidding costs. This has been combined with the evolution of the PFI market place.“

Amey, which is part of the shortlisted M-Logic consortium bidding for the Met Office (see News story), underwent restructuring in January, to focus on key market sectors.

The group says its business development will be conducted through two inter-related departments: Amey Ventures which focuses on PFI and PPP structured finance opportunities and the Business Development unit which was formed to concentrate on major opportunities which are not PFI or PPP led.

Amey has also been awarded a £560m infrastructure maintenance contract through the recent agreement with Railtrack. Covering the West Midlands and Chilterns regions, the maintenance contract will include maintenance, track renewal, property maintenance, structural inspection and M&E renewal. The initial contract is for five years with a five year extension.

www.amey.co.uk

Jessica Jarlvi