SOURCE: Atkins (WS) PLC

June 13, 2013 02:25 ET

Atkins: Results for the Year Ended 31 March 2013

"Good results, despite challenges in some markets."

LONDON--(Marketwired - Jun 13, 2013) - Design and engineering consultancy group WS Atkins plc (Atkins) (LSE: ATK) today announces its preliminary results for the year ended 31 March 2013.

RESULTS SUMMARY

                 
    Note   2013   2012   Increase / Decrease
                 
Income statement                
                 
  Revenue   1   £1,705.2m   £1,711.1m   -0.3%
                 
  Operating profit       £104.1m   £137.2m   -24.1%
  Underlying operating profit   2   £109.8m   £110.5m   -0.6%
                 
  Operating margin       6.1%   8.0%   -1.9pp
  Underlying operating margin   2   6.4%   6.5%   -0.1pp
                 
  Profit before taxation       £103.3m   £135.5m   -23.8%
  Underlying profit before tax   3   £104.5m   £101.6m   +2.9%
                 
  Profit after taxation       £88.4m   £106.8m   -17.2%
  Diluted EPS       88.8p   106.6p   -16.7%
  Underlying diluted EPS   4   86.7p   79.0p   +9.7%
Dividend       32.0p   30.5p   +4.9%
People   5            
  Staff numbers 31 March       17,899   17,420   +2.7%
  Average staff numbers       17,648   17,489   +0.9%
                 
Cash                
  Operating cash flow       £82.9m   £68.6m   +20.8%
  Net funds       £143.0m   £122.6m   +16.6%
                 
Work in Hand   6   55%   56%   -1.0pp
                 
                 

HIGHLIGHTS

  • Underlying profit before tax up 2.9% to £104.5m, on flat revenue

  • Underlying diluted EPS up 9.7%

  • Strong UK performance, with revenue up 4.7% and operating profit up 9.7%

  • Investment in growth continues, with Energy revenue up 18.3%

  • North America and Middle East markets remain challenging

  • Improved operating cash flow, with net funds of £143.0m (2012: £122.6m)

  • Full year dividend increased by 4.9% to 32.0 pence (2012: 30.5p)

  • Positive momentum continues into 2013/14, with outlook unchanged and in line with expectations.

"We have delivered another year of good results and made notable progress towards the implementation of our strategy over the past 12 months. We have continued to optimise our portfolio with the agreed sale of our UK highways services business and sustained positive momentum in our UK, Asia Pacific and Europe and Energy businesses. We remain focused on driving operational excellence throughout the Group to improve margins, optimise our portfolio and meet the evolving needs of our clients. We are confident we will achieve further underlying growth in the year ahead."

Click on, or paste the following link into your web browser, to view the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/9341G_1-2013-6-12.pdf

Contact Information

  • Enquiries

    Atkins

    Uwe Krueger
    Chief executive officer
    +44 (0) 20-7121-2000

    Heath Drewett
    Group finance director
    +44 (0) 20-7121-2000

    Sara Lipscombe
    Group communications director
    +44 (0) 20-7121-2000

    Kate Moy
    Investor relations director
    +44 (0) 20-7121-2000

    Smithfield

    Alex Simmons
    +44 (0) 20-7360-4900