WS Atkins trading stronger after dip

Award-winning consultancy firm WS Atkins Ireland is doing well again after trading through the very difficult years of the recession.

That is according to the firm’s directors in its 2014 accounts, which says the company’s pre-tax profits plummeted from €396,291 in 2013 to €542 in the 12 months to the end of March last year.

The firm has offices in Cork, Dublin and Galway and the recently filed accounts show the business recorded the sharp drop in pre-tax profits despite gross profit declining only marginally from €2.35m to €2.348m.

Last year, the firm won the Engineering Practice of the Year prize at the 2014 Irish Building and Design Awards and some of its projects include providing services to the upgrade of the M50, the UCD Sports Campus and the IBM Campus.

Atkins provides consultancy in the civil and structural engineering areas; covering motorways, environmental, water, transportation planning and project management.

Operating profits at the firm declined by more than €100,000, from €281,846 to €174,904, and net interest payable of €174,362 compared to net interest receivable of €114,445 in 2013 — a major contributor to the sharp drop in pre-tax profits.

Directors’ remuneration last year fell from €637,556 to €592,208. According to the directors’ report “despite the difficulties in the market, the company’s pre-tax profit amounted to €542. More significantly, having traded through the very difficult years of recession, the company has begun to grow again,” it said.

Numbers employed at the firm last year dropped from 68 to 66 and redundancy costs of €111,682 in 2013 did not recur last year.

The directors’ report states that Atkins Ireland continues to trade in a challenging business environment.

“The construction and civil engineering sectors have been adversely impacted by both Government capital spending reductions and overall weaker economic conditions.”

The report goes on to state: “A strong client focus, a local service, delivery excellence and an emphasis on adaptability, responsiveness and efficiency — all allied to the international support of the Atkins Group — placed Atkins Ireland in a strong position to take advantage of the economic improvements that will occur over the next few years.”