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UPDATE 1-Engineer Arcadis sees recovery in West, EM growth

Published 03/07/2011, 02:11 AM
Updated 03/07/2011, 02:12 AM

* Q4 gross revenue up 12 percent to 540 million euro (poll 510 million)

* Q4 EBITA up 12 percent to 39.7 million euro (poll 39.5 million)

* Expects an increase of revenue and profits in 2011

(Adds CEO comment, detail)

AMSTERDAM, March 7 (Reuters) - Dutch engineering consultancy Arcadis said it saw strong competition and price pressure in many markets but was cautiously optimistic thanks to emerging market growth and a gradual recovery in the West.

Arcadis has diversified from the cyclical construction industry into water management, environmental treatment services and a plethora of other projects such as the design of green cities in China and bioterrorism detection in the United States.

Its takeover of U.S. environmental consultancy Malcolm Pirnie in 2009 strengthened its position in that market, and the company said on Monday that a gradual recovery in the U.S and Europe should boost private sector investments and its orders.

"Although government austerity programs are causing uncertainty, especially in the European infrastructure market, the economic recovery has a positive impact on the environmental and buildings market, while emerging markets offer a lot of potential," Chief Executive Harrie Noy said in a statement.

Arcadis has expanded in several emerging markets, particularly Brazil and Chile, where it is involved in major mining and energy projects, and on Monday it said it saw market conditions there as very favourable.

Arcadis reported a 12 percent rise in fourth-quarter earnings before interest, tax and amortisation (EBITA) to 39.7 million euros on gross revenue of 540 million euros. Analysts in a Reuters poll had expected EBITA of 39.5 million euros on gross revenue of 510 million euros.

The company raised its dividend slightly to 0.47 euros per share from 0.45 euros per share last year.

Arcadis, which competes with Dutch peer Grontmij and U.S. rival Tetra Tech, said that, barring unforeseen circumstances and currency effects, it expected an increase of revenue and profits in 2011. (Reporting by Greg Roumeliotis; Editing by Sara Webb)

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