Atkins (WS) PLC - Final Results

Atkins (WS) PLC - Final Results 
LONDON, UNITED KINGDOM -- (Marketwired) -- 06/12/14 --  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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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                     

 
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