Amec Foster Wheeler took a trading profit hit of 24% for the first half the year.
The firm, which won six major contracts in the UK in the six-month period, recorded a trading profit of £188million – down from last year’s £243million.
However, its total scope revenue fell just 4% to £2.5billion.
Chief executive Samir Brikho said: “In the challenging conditions we find in many of our markets our priorities are clear: to make the most of the integrated Amec Foster Wheeler platform, innovate and adapt to offer customers relevant services and continue to keep a tight control on our own costs.
“I continue to believe our low-risk, multi-market model is a strong platform from which to create long-term value for shareholders.”
In the UK, Amec struck a string of deals for work in the North Sea, including a five-year call-off contract to provide brownfield engineering for Talisman, a Clair Ridge hook up and commissioning project for BP and multiple projects with BG and Conoco Phillips.
The firm credited dipped industry activity for a 4% drop to £749million for scope revenue in the area.
Overall, the firm spent £250million on administrative expenses for the first half of the year, including £83million in asbestos-related items.