Grontmij expecting stronger second half

GRONTMIJ, the engineering and environmental consultancy group with its UK headquarters in Yorkshire, has seen its performance stabilise despite seeing half year revenues fall.

The Dutch company, which has a base in Leeds, said although its markets remained uncertain, it would continue to look at its cost base and manage its working capital.

Grontmij acquired leading French engineering group Ginger earlier this year.

Commenting on its half year results, Grontmij said: “We will continue to vigorously pursue organic growth opportunities through the cross border business lines, and we will build further on these through the integration of the Ginger acquisition.

“With the stabilisation of our business in the Nordic region, the cost reductions and the expected pick up in the regulated water business in the UK we expect a stronger second half in 2010 for the organic business, to be further supplemented by the consolidation of Ginger.”

Grontmij saw revenues fall to £310m from £342.8m over the same period last year.

Pre-tax profits were £3.38m, down from £12.6m.