Partner Article

Cundall eyes new markets

Consulting engineers giant Cundall Johnston has earmarked new overseas opportunities in Libya, Romania and Hong Kong as it looks to recover from a 37% drop in annual profits.

The company, which started life in Newcastle and Edinburgh but now has offices all over the world, said it had endured a challenging time across the globe at the hands of the worldwide recession in 2009.

However, it is close to tapping into new opportunities in Libya, related to industrial parks, as well as its more established markets of Romania and Hong Kong, where new offices have recently been opened.

A company spokesperson said the firm had made some “considerable investments” in these markets as it looks for new opportunities abroad.

Meanwhile, the firm reported yesterday that pre-tax profits in the year ending June 2009 fell 37% on the previous year while turnover was up by £1.6m to £31.8m.

The firm, which has 450 employees and members, said: “As the effects of the worldwide recession began to be felt, the group experienced more demanding trading conditions and, although it maintained a similar level of turnover to the previous year, achieved a lower level of return.

“The external commercial environment remains competitive in the year to 30 June 2010 and further consolidation of all the Cundall businesses together with expansion into Hong Kong has taken place since the year end, giving the group greater opportunities to pursue work in other markets.”

Cundall started life in 1976 and today has overseas offices in Australia, the UAE, Hong Kong, China, Cyprus, Spain and Romania.

The firm’s services focus on developing environmentally-friendly, sustainable buildings.

This was posted in Bdaily's Members' News section by Ruth Mitchell .