At today’s Annual Meeting global infrastructure services provider, Opus International Consultants’ Chairman, Kerry McDonald, said the Board was pleased with the year end results for 2008 and that the company had fared comparatively well given the global financial turmoil and depressed equity markets.
“We have out-performed the Prospectus forecast, maintained a steady position in the challenging market environment and were rated 123rd in terms of revenue in the 2008 Engineering News top 150 global infrastructure design companies, up from 134th last year,” said Mr McDonald.
“Across our markets of New Zealand, Australia, the United Kingdom and Canada, we have enjoyed a number of important successes and strengthened our position as a professional services consultancy providing a wide range of services to a large number of clients. We gained considerable new business across all sectors of operation and a significant number of existing contracts were renewed.”
“In New Zealand we maintained our position as the leader in the asset management of transportation infrastructure,” said Mr McDonald. “In Australia, Canada and in the United Kingdom we worked strongly to develop our position which was made more difficult by the early effects of the global recession and the depressed market in the United Kingdom.”
“Overall and as a result of the increases in revenue from our existing business and acquisitions, our turnover increased by 25.4 percent on the previous year and our net surplus increased by 23.4 percent.”
Mr McDonald said the company had celebrated a number of highlights and awards during the year. This included Opus’ Chief Executive and Managing Director, Kevin Thompson, receiving the Institution of Professional Engineers of New Zealand, William Pickering Award for engineering leadership.
“This award,” said Mr McDonald, “is one of the most prestigious industry awards and is given in recognition of an engineer who has acted as a role model and an exceptional leader.”
“To be recognised in this manner reflects Kevin’s (Kevin Thompson) excellent technical and business skills - attributes that have benefitted Opus greatly.”
Commenting on the Employee Share Option Plan, Mr McDonald said that approximately 120 senior employees from across a wide range of disciplines and locations had options issued by the company from 2003 to 2007.
“The terms under which these options were issued, included a fixed strike price set at the time of issue with a five year vesting and maturity period. This has remained the same from year to year. In 2008 Opus introduced a new employee scheme and shares with a vesting period of five years were issued to some 133 participants. We propose a further tranche will be issued in 2009 with a total value of $1.64 million.”
“We believe our share incentive scheme is a vital instrument in attracting and retaining key employees, which in a people business is fundamental for ongoing success and future growth.” he said.
In acknowledging the company’s work force, Mr McDonald said it is the people of Opus who are the essence of its success.
“It is they who provide and deliver sustainable and value-added solutions for our clients’ projects and I warmly acknowledge this and thank them.”
Looking forward, Mr McDonald said that the outlook for global economies is unusually uncertain and is likely to be challenging.
“Opus is exposed to this but we do have the considerable advantage of our established relationships, a strong portfolio of capabilities, excellent people and an involvement in many attractive market segments. With our strong organisation and market position we are well placed to compete and succeed.”
For further information please contact:
Managing Director and Chief Executive
Opus International Consultants
Mob: 021 669 254