AMEC said yesterday it had a record order book of £3.55billion as at April 30 as it reported that year-to-date trading was in line with expectations.
The company, which supplies consultancy, engineering and project-management services to the natural-resources, clean-energy, nuclear, water and environmental sectors, said this was up from £3.17billion at December 31 and from £3.4billion in April, 2009.
It also said it expected a growing project pipeline as 2010 progressed.
AMEC said its new order intake in the first four months of 2010 was up 20% year-on-year and that it remained on track to deliver a margin of 8.5% in earnings before interest, taxes and amortisation over the full year.
Chief executive Samir Brikho said: “We are seeing some improvement in customer spending, and we continue to expect an increasing order pipeline as the year progresses.
“We are well positioned on contracts at the early stage of the project cycle and are confident that this will support continued growth.”
AMEC added that its balance sheet remained strong and it would continue to prioritise further selective value-enhancing acquisitions during 2010.
Average net cash is expected to be about £650million in 2010, before the impact of further acquisitions.
In the group’s natural-resources division, led by director and chief operating officer Neil Bruce in Aberdeen, the order book at April 30 was a record £1.8billion, up from £1.71billion at December 31 and £1.72billion in April, 2009.
In power and process, the order book at the end of last month stood at £1.43billion, compared with £1.17billion at December 31 and £1.37billion in April 2009.
In its Earth and environmental division the order book at April 300 was £323million, up from £288million at December 31 and £277million in April, 2009.