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Engineering firm Amec expects 'modest' underlying revenue growth

Reuters - UK Focus

Oct 3 (Reuters) - British engineering firm Amec Plc (Other OTC: AMCBF - news) said it expected to see "modest" underlying revenue growth in 2014, but kept its full-year outlook unchanged.

The company said less greenfield activity in some of its key upstream oil and gas markets was partially offsetting strong growth from its clean energy and middle eastern oil & gas businesses.

In August, the company cut its revenue forecast as customers cut back on oil and gas exploration.

Amec reiterated that margins would be slightly lower compared to last year and said profit and cash flows would be weighted to the second half of the year ending Dec. 31. (Reporting by Karen Rebelo in Bangalore; Editing by Sunil Nair)