SOURCE: Atkins (WS) PLC

June 14, 2012 02:00 ET

Atkins (WS) PLC Announces Final Results

LONDON--(Marketwire - Jun 14, 2012) - (LSE: ATK) -- Results for the year ended 31 March 2012

"Good results, with a return to headcount growth in an economic environment that continues to be challenging."

Design and engineering consultancy group WS Atkins plc (Atkins) today announces its preliminary results for the year ended 31 March 2012.

RESULTS SUMMARY

Note 2012 2011 Increase / Decrease
Income statement
Revenue 1 £1,711.1m £1,564.3m +9.4%
Operating profit £137.2m £107.0m +28.2%
Underlying operating profit 2 £110.5m £118.7m -6.9%
Operating margin 8.0% 6.8% +1.2pp
Underlying operating margin 2 6.5% 7.6% -1.1pp
Profit before taxation £135.5m £91.0m +48.9%
Underlying profit before tax 3 £101.6m £102.7m -1.1%
Profit after taxation £106.8m £72.6m +47.1%
Diluted EPS 106.6p 72.7p +46.6%
Normalised diluted EPS 4 79.0p 75.0p +5.3%
Dividend 30.5p 29.0p +5.2%
People 5
Staff numbers 31 March - continuing 6 17,420 16,978 +2.6%
Average staff numbers 17,489 16,582 +5.5%
Cash
Net funds £122.6m £123.3m -0.5%
Work in Hand 7 60% 55% 5.0pp

HIGHLIGHTS

  • Revenue up 9%, normalised EPS up 5%

  • Diversification now delivering more than 50% of Group revenue from outside the UK

  • North American consultancy business margin further improved to 6.6% (2011: 5.7%)

  • Strengthened balance sheet, with net funds of £122.6m and a reduced pension deficit

  • Improved work in hand of 60% (2011: 55%)

  • Full year dividend increased by 5.2% to 30.5 pence

  • Outlook for 2012/13 remains unchanged and in line with expectations.

"We have made good progress in the last twelve months despite the challenging economic environment. During the second half we continued to diversify the business, improved cash flow, reduced our pension liabilities and are returning to growth. We remain focused on driving operational excellence throughout the business to improve margins, optimise our portfolio and meet the evolving needs of our clients. Our strategy is clear and the Group is well positioned to deliver further growth in the year ahead."

Allan Cook CBE
Chairman
Dr Uwe Krueger
Chief executive officer

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

http://www.rns-pdf.londonstockexchange.com/rns/3370F_1-2012-6-13.pdf

Contact Information

  • Enquiries

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

    Sara Lipscombe
    Group communications director
    +44 (0) 1372 726140

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

    Smithfield
    Alex Simmons
    +44 (0) 20 7360 4900