Arcadis posts £24m loss after Middle East hit

By Jordan Marshall2019-02-15T06:00:00

Dutch consultant sees profit fall from €71m

Arcadis has plunged to a €27m (£24m) loss on the back of a €40m (£35m) writedown in its Middle East division.

Falling workloads forced the consultant to slash the value of goodwill it had assumed following acquisitions in the Middle East, according to its final results for the year to 31 December 2018.

The firm said: “Revenues declined particularly in the Middle East due to higher selectivity and the cancellation of a large project.”

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