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AEA Tech profits down, hopeful about US

Energy and climate change consultancy AEA Technology saw losses fall for the year but said it aims to continue winning business with the US government.

Profit before tax decreased to £3.5m from £7.5m before because of higher administrative expenses. Revenue rose 21% to £113.2m.

"We have made real progress in the year and are now established as an important advisor to the US Government in climate change and energy," said the group.

"This is becoming a very exciting market opportunity for us," it added.

In Europe, the group said it anticipates market conditions will be challenging, especially in the UK where the new coalition government is looking to cut spending.

No dividends were announced.

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