AMEC, which provides consultancy, engineering, and project-management services to the world’s energy, power and process industries, said yesterday that trading for the year to date was in line with expectations.
It said continued strength in demand, led by its Aberdeen-based natural resources division and Earth and environmental arm, was expected to result in further improvement in group earnings before interest, taxes and amortisation in 2009.
Chief executive Samir Brikho said: “AMEC has made a good start to the year and remains on track to deliver another year of improved performance in 2009.
“We continue to win major project work and view the future with measured confidence. Despite the impact of project deferrals and cancellations, our order book continues to grow.
“AMEC’s net cash position remains exceptionally strong and we continue to monitor opportunities for growth through selective acquisition.”
The group said it had net cash at the end of last month of about £700million compared with £637million a year earlier.
The range of market forecasts for 2009 pre-tax profits before exceptional costs and amortisation is £211-£266million, with consensus being £235million.
Oil equipment maker NOV Elmar UK, which has its headquarters at Westhill, near Aberdeen, has refused to comment on fears that up to 50 jobs could be under threat.
More than 260 people work at Westhill and there are also offices in Houston, Dubai and Singapore.
The firm, part of Houston-based National Oilwell Varco, designs and makes wellhead pressure-control equipment.