In Line With Expectations and on Track for the Full Year
LONDON–(Marketwire – November 16, 2012) – Design and engineering consultancy group WS Atkins plc (Atkins) (LSE: ATK) today announces its unaudited results for the six months ended 30 September 2012.
FINANCIAL SUMMARY
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Key Performance Indicators
Six months to Six months to Increase /
30 Sept 2012 30 Sept 2011 (Decrease)
Income statement - on an
underlying basis a
Underlying operating profit £ 45.9m £ 51.5m (10.9)%
Underlying operating margin 5.6% 6.1% (0.5)pp
Underlying profit before
taxation £ 43.9m £ 46.4m (5.4)%
Underlying diluted earnings
per share 34.9p 36.2p (3.6)%
Income statement - as
reported
Revenue £ 815.7m £ 842.9m (3.2)%
Operating profit £ 44.8m £ 49.3m (9.1)%
Operating margin 5.5% 5.8% (0.3)pp
Profit before taxation £ 50.4m £ 44.2m 14.0%
Profit after taxation £ 41.5m £ 34.9m 18.9%
Diluted earnings per share 41.8p 34.8p 20.1%
Dividend b 10.00p 9.75p 2.6%
Average staff numbers c 17,482 17,529 (0.3)%
Closing staff numbers c 17,756 17,710 0.3%
Work in hand 89.5% 88.2% 1.3pp
Net funds d £ 83.7m £ 95.6m (12.4)%
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Notes:
a. Excludes amortisation of acquired intangibles in both 2012 and 2011, and profit on sale of RMPA in 2012
b. Interim dividend declared for the six months to 30 September 2012
c. Staff numbers are shown for continuing operations and on a full-time equivalent basis, including agency staff
d. Net funds comprise cash and cash equivalents plus financial assets and loan notes receivable less borrowings
Highlights
Revenue down 3.2% following UK asset management sale in 2011
Solid UK performance with growing headcount
Challenging first half in North America and the Middle East
Strong growth in Asia Pacific, Europe and Energy
Financial position remains strong, with new funding arrangements in place
Interim dividend increased by 2.6%
Overall outlook for the full year unchanged.
Commenting on the results, Uwe Krueger, chief executive officer, said:
“The Group has delivered encouraging results in line with our expectations, with the sector and geographic spread of our business continuing to provide resilience in challenging markets. Implementation of our strategy continues and the outlook for the full year remains unchanged.
We are pleased to be recruiting again and, in particular, are delighted to welcome over 500 graduates to the Group this autumn.
We have been proud to be the official engineering design services provider to the London 2012 Olympic Games. This project leaves an important regeneration legacy in London and is proving to be a valuable reference for both business development and staff recruitment.”
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Contact Information
Enquiries
Atkins
Uwe Krueger
chief executive officer
Heath Drewett
Group finance director
Kate Moy
investor relations director
Sara Lipscombe
Group communications director
Smithfield
Alex Simmons