News on 1 September 2000

(L-R) Stuart Siddall, Finance Director, Sydney Gillibrand CBE, Chairman andPeter Mason, Chief Executive Officer at the announcement of Amec's interim results

Amec’s interim results for the six months ended 30 June 2000 show pre-tax profit up18% at £32.4m on increased turnover of £1,690m. Services accounted for more than half of total operating profit.

Chief Executive, Peter Mason, commented: "In the first half of 2000, each of our business sectors continued to perform well and we made significant progress in the implementation of our strategy. In May, a new corporate identity and brand were launched, in keeping with the changing face of AMEC. The acquisition of AGRA, now AMEC Inc., was concluded in April and, since then, we have worked to take full advantage of the synergies offered by the combination of the businesses."

AMEC provides a range of facility services at the London Underwriting centre in the heart of the City of London. Opened in 1993, and designed specifically to provide a market environment for insurance, the centre houses approximately 40 companies.

Both turnover and profits in the Services sector increased in the half year,with excellent performances in oil and gas services, utilities and infacilities management which "continues togrow strongly at favourable margins". These were offset in part, says Amec, by rail maintenance, due to AMECs refusal to accept work at "other than realistic margins".

Richard Byatt