Amec Foster Wheeler’s figures for 2014 are a true nightmare to understand, not helped by the company’s use of a revenue measure — taking out from the total any turnover on which the company does not make a profit — that is as far as I know unused elsewhere.
This shows those core revenues up 2 per cent to £3.92 billion. By another measure, and taking in seven weeks of numbers for Foster Wheeler, that the engineer bought in November, which totalled £274 million, they were unchanged at £3.99 billion.
Pro-forma numbers for them both, pretending they were under the same ownership for the whole of 2014, show revenues of £5.8 billion, down from £6.1 billion in 2013 and £6.2 billion in 2012. Both