Amec forecasts modest growth

AMEC, the international engineering group with major operations in nuclear and green energy in Cheshire, said it expects “modest underlying growth” in the second half, led by the clean energy and Middle Eastern oil and gas markets.

But in an interim management statement the company, which provides services and equipment for the oil and gas, mining, nuclear and renewable energy sectors, said there will be a slight reduction in margins.

Exchange rates have also been “less favourable” than last year and are expected to hit revenues by £250m and trading profits by £25m, as previously flagged.

It said profits and cash-flow will be “second-half weighted”.

Amec has operations in Knutsford, Warrington and Northwich,