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Atkins (WS) PLC announces Half Yearly Report

Atkins (WS) PLC announces Half Yearly Report

LONDON -- (Marketwire) -- 11/15/12 -- *T

Half year financial report for the six months ended 30 September 2012

In line with expectations and on track for the full year.

Design and engineering consultancy group WS Atkins plc (Atkins) today announces its unaudited results for the six months ended 30 September 2012.


Key Performance Indicators

Six months to Six months to Increase /

30 Sept 2012 30 Sept 2011 (Decrease)

Income statement a - on an underlying basis

Underlying operating GBP45.9m GBP51.5m (10.9)% profit Underlying operating 5.6% 6.1% (0.5)pp margin Underlying profit GBP43.9m GBP46.4m (5.4)% before taxation Underlying diluted 34.9p 36.2p 3.6)% earnings per share

Income statement - as reported Revenue GBP815.7m GBP842.9m (3.2)% Operating profit GBP44.8m GBP49.3m (9.1)% Operating margin 5.5% 5.8% (0.3)pp Profit before taxation GBP50.4m GBP44.2m 14.0% Profit after taxation GBP41.5m GBP34.9m 18.9%

Diluted earnings per 41.8p 34.8p 20.1% share 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 GBP83.7m GBP95.6m (12.4)%

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


* Revenue down 3.2% following UK asset management sale in 2011

* Solid UK performance with growing headcount

* Challenging first half i n 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."

Click on, or paste the following link into your web browser to view the full announcement.

This information is provided by RNS

The company news service from the London Stock Exchange


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