Atkins: Results for the Year Ended 31 March 2013

“Good results, despite challenges in some markets.”

LONDON–(Marketwired – June 13, 2013) – Design and engineering consultancy group WS Atkins plc (Atkins) (LSE: ATK) today announces its preliminary results for the year ended 31 March 2013.

RESULTS SUMMARY

                 
   

Note

 

2013

 

2012

 

Increase / Decrease

                 
Income statement                
                 
  Revenue  

1

 

£1,705.2m

 

£1,711.1m

 

-0.3%

                 
  Operating profit      

£104.1m

 

£137.2m

 

-24.1%

  Underlying operating profit  

2

 

£109.8m

 

£110.5m

 

-0.6%

                 
  Operating margin      

6.1%

 

8.0%

 

-1.9pp

  Underlying operating margin  

2

 

6.4%

 

6.5%

 

-0.1pp

                 
  Profit before taxation      

£103.3m

 

£135.5m

 

-23.8%

  Underlying profit before tax  

3

 

£104.5m

 

£101.6m

 

+2.9%

                 
  Profit after taxation      

£88.4m

 

£106.8m

 

-17.2%

  Diluted EPS      

88.8p

 

106.6p

 

-16.7%

  Underlying diluted EPS  

4

 

86.7p

 

79.0p

 

+9.7%

Dividend      

32.0p

 

30.5p

 

+4.9%

People  

5

           
  Staff numbers 31 March      

17,899

 

17,420

 

+2.7%

  Average staff numbers      

17,648

 

17,489

 

+0.9%

                 
Cash                
  Operating cash flow      

£82.9m

 

£68.6m

 

+20.8%

  Net funds      

£143.0m

 

£122.6m

 

+16.6%

                 
Work in Hand  

6

 

55%

 

56%

 

-1.0pp

                 
                 

HIGHLIGHTS

Underlying profit before tax up 2.9% to £104.5m, on flat revenue

Underlying diluted EPS up 9.7%

Strong UK performance, with revenue up 4.7% and operating profit up 9.7%

Investment in growth continues, with Energy revenue up 18.3%

North America and Middle East markets remain challenging

Improved operating cash flow, with net funds of £143.0m (2012: £122.6m)

Full year dividend increased by 4.9% to 32.0 pence (2012: 30.5p)

Positive momentum continues into 2013/14, with outlook unchanged and in line with expectations.

“We have delivered another year of good results and made notable progress towards the implementation of our strategy over the past 12 months. We have continued to optimise our portfolio with the agreed sale of our UK highways services business and sustained positive momentum in our UK, Asia Pacific and Europe and Energy businesses. We remain focused on driving operational excellence throughout the Group to improve margins, optimise our portfolio and meet the evolving needs of our clients. We are confident we will achieve further underlying growth in the year ahead.”

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

http://www.rns-pdf.londonstockexchange.com/rns/9341G_1-2013-6-12.pdf

Enquiries

Atkins

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

Heath Drewett
Group finance director
+44 (0) 20-7121-2000

Sara Lipscombe
Group communications director
+44 (0) 20-7121-2000

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

Smithfield

Alex Simmons
+44 (0) 20-7360-4900

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