Atkins (WS) PLC - Final Results

Marketwired

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

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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
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