2005 produces healthy £52m profit for Amey

Amey enjoyed a climb in profit to £52m last year, representing a margin of 4.3%.

Turnover in the 12 months to 31 December 2005 was £1.2bn (£960m).

The latest profit was more than double the figure of £21m in the previous year.

Ferrovial, the Spanish construction, infrastructure and services group, bought Amey in May 2003 after a string of financial charges had rocked the group, leaving it in urgent need of a saviour.

With Ferrovial’s help, Amey is back on its feet and last year it built up a 67% stake in Tube Lines after purchasing Jarvis’s 33% holding for £96m.

During 2005, Amey also pursued PFI opportunities in four strategic sectors: health (large hospitals), education (schools), defence (asset management and accommodation), and transport infrastructure (roads and street lighting).

Amey is leading consortia bidding for two Scottish school projects, a school in Northern Ireland and two roads projects –one of these being the £4.5bn widening of the M25 London orbital motorway.