By Matthew Legg

Last updated 11:47, Friday, 29 August 2008

AMEC, the British company about to jointly take over the running of Sellafield, has reported a leap in profits.

Sellafield: Privatisation due in November

The company, one third of an international consortium which won the race to take control of the nuclear site, said pre-tax profits were at all-time high of £82.3m in the six months to June 30.

Amec joined US giant URS and French company Areva to form Nuclear Management Partners (NMP).

The set-up was announced as the preferred bidder to run Sellafield by the Nuclear Decommissioning Authority last month and should take full control in November.

Amec is a well-known name on the west Cumbrian nuclear scene having been involved in work at Sellafield for 25 years.

Chief executive Samir Brikho said: “These record results further demonstrate the strength of our businesses and the speed with which Amec is improving its performance. The strength of our balance sheet in the current credit crisis, coupled with the attractiveness of the end markets we serve, confirms our confidence in the future.”

Good growth in each of its three divisions saw pre-tax profit rise from £66.9m, with revenue increasing by nine per cent to £1.25bn.

The group said each of its core businesses is expected to deliver further performance improvement in the second half of 2008.

Interim dividend has been increased 15 per cent to 5.3p per share.

NMP will take control of Sellafield in November subject to finalisation and after a transfer of shares.

Bob Pedde, former boss of the Savannah River nuclear site in the US, will take over as Sellafield managing director from Barry Snelson.

MLegg@cngroup.co.uk