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AMEC Plc: Trading In Line With Expectations; Announces New Board Directors
[October 03, 2014]

AMEC Plc: Trading In Line With Expectations; Announces New Board Directors


(dpa-AFX International Compact Via Acquire Media NewsEdge) LONDON (dpa-AFX) - AMEC plc (AMEC.L) reported that its trading is in line with expectations. AMEC said its outlook remains unchanged and the financial position of the group remains strong. AMEC expects to see modest underlying revenue growth in 2014 for its existing operations. The Group said its profits and cash flow generation will be second-half weighted, as in prior year.



The Group noted that actual exchange rates year to date, and forecast average North American exchange rates for the remainder of 2014, continue to be less favourable than 2013. AMEC expects this to translate into a year on year impact on revenues of circa 250 million pounds, and for trading profit of circa 25 million pounds for the full year.

AMEC plc also announced that Kent Masters and Stephanie Newby have agreed to join its board as non-executive directors after completion of the offer for Foster Wheeler. Kent Masters is currently President and CEO of Foster Wheeler. He will join the AMEC board immediately following the termination of his employment with Foster Wheeler, which is expected to be towards the end of the fourth quarter of 2014. Stephanie Newby, CEO of Crimson Hexagon, will be appointed to the AMEC board, effective from completion of the offer for Foster Wheeler.


Copyright RTT News/dpa-AFX

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