Strong order intake for AMEC

11 April 2012

Engineer AMEC today said the outlook for its nuclear unit would not be dented by the crisis in Japan, as it reported a strong order intake for the first four months of 2011.

AMEC said ahead of its annual general meeting today that its pipeline of orders grew to £3.25 billion on April 30 from £3.14 billion at the end of 2010, boosted by contract awards in Chile and the North Sea.

The company -- which helps build nuclear power stations and service oil rigs -- said trading in the first four months of 2011 was in line with expectations and it was confident of maintaining a 9 percent earnings margin this year.

AMEC's outlook for its power division has not been impacted by events at a nuclear station in Japan and subsequent global focus on nuclear power, the FTSE 100 company said.

An earthquake and tsunami in Japan on March 11 knocked out all the cooling systems at the Fukushima plant, leading to the greatest leak of radiation since the 1986 Chernobyl disaster.

Reviews on the safety of nuclear power around the world were likely to support the need for specialist nuclear engineering, AMEC said.

"The outlook for AMEC's nuclear activity, which involves reactor support, waste management, decommissioning and nuclear new build in the UK, Canada and Central and Eastern Europe, remains positive and unchanged," said the company.

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