Amec takes a flier with T5 designs
A DECISION on London Heathrow's Terminal Five is likely to be made when Parliament returns this autumn, according to Peter Mason, chief executive of engineering services and construction giant Amec. Mason is so confident the controversial multi-million pound project will get the go-ahead that his design teams are already at work on the scheme, which would take five years if approved.
Amec's decision to diversify into the US and Europe as well as spreading its interests in Britain appears to have been the right recession-defying move as pre-tax profits were boosted 20% to £38.8m in the six months to June.
Being in old manufacturing sectors such as power, oil and gas, road and rail infrastructure has also insulated Amec from the current economic slowdown. Total turnover in the period rose by 22% to £2.07bn. The interim dividend rises 11% to 3.1p a share. The stock advanced 4p to 468 1/2p.
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