Record year for Aecom

Aecom has posted a record revenue of $18.2bn for the full year 2017.

The engineering firm achieved record full year wins of $23.2bn, resulting in an all-time high backlog of $47.5bn. Full year revenue is up from $17.4bn year-on-year, while the backlog is up from $42.8bn.

The design & consulting services, construction services, and management services segments are all up on 2016.

Full year operating income for the Aecom Capital (ACAP) segment was $49m, driven by the company’s first investment monetization, which closed during the fiscal third quarter. The ACAP segment invests in real estate, P3s, and infrastructure.

“Our performance in fiscal 2017 was highlighted by strong cash flow, record backlog, and accelerating revenue growth, which serve as clear evidence that our diverse business and design, build, finance and operate vision are delivering results,” said Michael Burke, Aecom’s chairman and chief executive officer.

Meanwhile, General Electric has announced it is to focus on aviation, power and healthcare in an investor update. The US conglomerate is also to reduce the company’s quarterly dividend by 50%.

John Flannery, chairman and CEO of GE said: "The dividend remains an important component of GE’s capital allocation framework. With this action and others that we will be discussing this morning, we are acting with urgency to make GE simpler and stronger to drive growth and create more value for our shareowners.”

As previously reported, a leadership reshuffle is underway across the conglomerate.