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Name | Symbol | Market | Type |
---|---|---|---|
Amundi MSCI Smart Cities ESG Screened UCITS ETF Acc | TG:AMEC | Tradegate | Exchange Traded Fund |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.37 | 0.66% | 56.35 | 56.15 | 56.57 | 56.42 | 56.02 | 56.02 | 141 | 12:10:29 |
RNS Number:9836T AMEC PLC 08 January 2004 Embargoed for release at 07:00 8 January 2004 AMEC plc January 2004 - PRE CLOSE TRADING UPDATE Trading in line with expectations AMEC plc, the international engineering services company, is pleased to confirm that overall performance in 2003 was in line with the Board's expectations of sound progress, as disclosed at the time of the Company's interim results announcement on 28 August 2003. In North America, evidence suggests that the decline in investment in AMEC's industrial markets witnessed over the past two years has been halted. Enquiry levels have increased and there has been some resumption of project activity in the mining, forest industry and food and beverage sectors. AMEC expects to benefit from a number of major contract awards anticipated in its end markets in the first quarter of 2004. Conditions in the US commercial building market have remained difficult, with Construction Management failing to break even in the second half. Performance in the Earth and Environmental business improved in the second half, reflecting recovery in US defence spending. Average weekly net debt* for the full year was #360m as compared to #330m in the first half, reflecting the normal seasonal pattern, lower levels of advance cash and investments in regeneration partnerships and PPP. Net debt as at 31 December 2003, reflecting the acquisition of SPIE S.A., was approximately #250m (2002: #37.3m). Outlook AMEC remains well positioned in oil and gas, transport and infrastructure markets. Notwithstanding rail maintenance contracts being taken back in house by Network Rail, prospects in these markets continue to be encouraging. Industrial markets in North America are showing early signs of recovery and there is the prospect of a number of major contract awards in the first quarter of 2004. This, together with opportunities in Iraq, gives the Board confidence that AMEC will make further progress in 2004 in line with its earlier expectations. Chief Executive, Sir Peter Mason KBE, said: "I am pleased with AMEC's performance in 2003, with sound progress having been achieved despite challenging conditions in some of our markets. "I am confident that AMEC will show organic growth in 2004. Fundamentals in the majority of our markets remain encouraging. We see improving prospects in our North American industrial markets and are well positioned to benefit when our clients resume major capital investment programmes." AMEC expects to announce its preliminary results for the year ended 31 December 2003 at 7.00 a.m. on Thursday, 11 March 2004. * The average is a pro forma and assumes SPIE was acquired on 1 January 2003 and Spie Batignolles was disposed of on 1 January 2003. Enquiries to: AMEC plc + 44 (0)20 7634 0000 Analysts/Investors: Sir Peter Mason KBE, Chief Executive Stuart Siddall, Finance Director Neil Jamieson, Director of Investor Relations Media: Juliet Sychrava, Director of Corporate Communications Nick Welsh, Manager Corporate Communications www.amec.com Ends This information is provided by RNS The company news service from the London Stock Exchange END TSTVDLFBZFBZBBV
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