Mouchel’s new RI boss confident about future

Prior to his latest role, Rowe was operating group director of Regulated Industries’ engineering and environment division.

Rowe said: “This is a hugely exciting time for Regulated Industries and Mouchel. Our recent asset management programme (AMP5) wins in the water sector have given us a record order book, and our pipeline of opportunity in the rail, energy and environment sectors gives us much confidence for the future.

“I see enormous scope to offer our managed-services capabilities in the Regulated Industries sector, and I intend to improve further the way we work with all our clients, providing a tailored service that differentiates us from our competitors.”

Rowe’s appointment comes as Mouchel has stressed its commitment to the utilities division, saying it will not be sold off. In a trading statement, Mouchel said the short-term outlook “is difficult… We remain confident about the group’s long-term prospects”.

In the first half of the group’s current financial year, Mouchel has considered asset disposals to reduce its borrowing levels. It initiated the sale of its Middle East business, but has decided not to proceed with any other asset sales.

The group’s statement said: “We are at the low point of the regulatory cycle and have positioned the water business well for the future under new management and as a result of significant successes in the AMP5 bidding round.”

It secured a significant number of commissions under AMP5 including long-term contracts with Thames, Severn Trent, Wessex, South West, Yorkshire, and Scottish Water.

Mouchel said it had already secured more contracts than in AMP4, and expects to secure further appointments.

However, it said the start of many contracts has been slower than anticipated and it expects “the volume of work to be more back-end loaded than in previous regulatory periods”.

“Aside from AMP5-related contracts, we are continuing to bid a number of opportunities, the most significant of which is in support of Siemens for the Thames Water outsourced meter reading commission,” said the group.