Atkins (WS) PLC - Final Results

LONDON, UNITED KINGDOM--(Marketwired - Jun 12, 2014) - Atkins (WS) PLC (LSE: ATK)

Results for the year ended 31 March 2014"Good results and significant progress on our strategy"

Design, engineering and project management consultancy WS Atkins plc (Atkins) today announces its preliminary results for the year ended 31 March 2014.

RESULTS SUMMARY
					2014		2013		Increase /
			Note				Restated7		Decrease
Income statement
	Revenue		1		GBP1,750.1m		GBP1,705.2m		+2.6%
	Operating profit				GBP113.7m		GBP104.0m		+9.3%
	Underlying operating profit		2		GBP116.4m		GBP109.7m		+6.1%
	Operating margin				6.5%		6.1%		+0.4pp
	Underlying operating margin		2		6.7%		6.4%		+0.3pp
	Profit before taxation				GBP114.2m		GBP98.0m		+16.5%
	Underlying profit before tax		3		GBP106.4m		GBP99.2m		+7.3%
	Profit for the year after taxation				GBP96.3m		GBP84.3m		+14.2%
	Diluted EPS				95.8p		84.7p		+13.1%
	Underlying diluted EPS		4		85.7p		82.6p		+3.8%
Dividend					33.75p		32.0p		+5.5%
People			5
	Staff numbers 31 March				17,489		17,899		-2.3%
	Average staff numbers				17,565		17,648		-0.5%
Cash
	Operating cash flow				GBP95.5m		GBP82.9m		+15.2%
	Net funds				GBP188.3m		GBP143.0m		+31.7%
Work in Hand			6		51%		55%		-4.0pp

HIGHLIGHTS

- Underlying profit before tax up 7.3%, on revenue 2.6% ahead

- Excluding Peter Brown and UK highways services, disposed of in year, operating margin at 7.2%

- Operational excellence roll out in North America and Middle East

- Portfolio optimisation now substantially complete

- Confluence acquisition adds key programme management expertise and additional presence in our growth region of Asia Pacific

- Strong operating cash flow with net funds of GBP188.3m

- Full year dividend increased by 5.5% to 33.75 pence (2013: 32.0p), on underlying diluted EPS up 3.8%

- Positive momentum continues into 2014/15, with outlook unchanged and in line with expectations."We have achieved good results with growth in profits and a strong cash performance. We have also made significant progress in delivering our strategy across the three pillars of operational excellence, portfolio optimisation and growth in defined segments and regions and are confident of making further progress in the year ahead."

Allan Cook CBE		Prof Dr Uwe Krueger
Chairman		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/4266J_1-2014-6-11.pdf

Enquiries
Atkins
Uwe Krueger, Chief executive officer		+44(0)2071212000
Heath Drewett, Group finance director		+44(0)2071212000
Sara Lipscombe, Group communications director		+44(0)2071212000
Kate Moy, Investor relations director		+44(0)2071212000

Smithfield
Alex Simmons		+44(0)2073604900

This information is provided by RNS
The company news service from the London Stock Exchange