Amec set for two-way split
15/03/2006 - 09:11:02Amec confirmed plans to split itself in two today after a poor performance from its UK construction division depressed full-year results.
The company will look to complete the sale of its French arm Spie, which was put up for sale last year, before separating its core energy and process management operations from its construction activities.
Amec said underlying profits rose 7% to £124.1m (€180.1m) in 2005, but that project solutions saw its surplus dip 58% to £11.2m (€16.2m), following weakness in UK construction services, particularly roads.
