M25 helping Atkins steer clear of slump

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Atkins today reported underlying operating profits flat at £48.5 million in the six months to the end of September as construction projects and investment initiatives are either put on hold or in stop-start mode.

The £6.2 billion, 30-year M25 road-widening and roadworks maintenance joint venture contract Atkins entered into this year has seen a 40% leap in profits for the group's highways engineering business, its second-largest unit after design engineering projects like the Olympics.

"The trend for the last two years is that we are seeing very few trends," said chief executive Keith Clarke. "There will be a hiatus in public sector spending during and after next year's General Election, but what we will see is decarbonisation of the economy bringing us significant work, that the investment in renewable energy will come and that we are in place for nuclear new build and maintenance contracts."

Higher financing and pension costs saw profits at the pre-tax level fall 13% to £43 million. The interim dividend is up 6% at 9.25p.