Denmark-based design firm COWI A/S has quit "risky" markets in the Middle East and Africa to focus on core regions, including North America, and its new green growth strategy. The company plans to grow 5% a year organically and through selective acquisitions.
COWI revenue rose 2.2% last year to $980 million, generating $53 million in operating profit, excluding costs of a dispute over work on Muscat International Airport in Oman. The firm reported an operating margin of 7.4%, falling to 3.3% due to costs relating to the arbitration, which include expert witness fees .