The building services and FM contractor sold its loss-making distribution and transmission business to Keltbray last Summer as part of the turnaround programme.
As a result of selling transmission contracts, revenue dipped 5% to £229m, while Spie delivered a pre-tax profit of £7.4m compared with a £28m loss the year before.
The performance was helped by a £19m write back from main holding company Spie UK to cover debts owed to it by another group business Spie Leven.
The pre-tax figure also included a near £12m loss from the discontinued activities of the transmission and distribution arm.
Spie also paid out £1.4m in restructuring costs as average headcount fell by around 350 to 3,257 staff.
Robert Goodhew, chief executive of the Spie UK Group, said the main Spie contracting business – formerly called Spie Matthew Hall – saw operating margins rise slightly to 4.5% from 4.3% last time.