COWI ended the 2002-03 financial year with operating profits of DKr43·1m, down DKr7·7m from last year. Pre-tax profits declined by DKr14·8m to DKr42m.

Turnover outside Denmark was up 42%, and formed 56% of the company’s record total turnover of DKr2·29bn, up 33% from 2001-02. Turnover in Denmark was up 23%.

The acquisition of Kampsax and Norwegian Interconsult increased the number of staff by 1230. ’The year has been marked by acquisition, integration and the reorganisation of COWI’s business units’, said CEO & Managing Director Klaus H Ostenfeld, who described the Kr42m profit as satisfactory. n