WS Atkins plc Half Year Financial Report for the Six Months Ended 30 September 2012

In Line With Expectations and on Track for the Full Year

LONDON–(Marketwire – November 16, 2012) – Design and engineering consultancy group WS Atkins plc (Atkins) (LSE: ATK) today announces its unaudited results for the six months ended 30 September 2012.

FINANCIAL SUMMARY

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Key Performance Indicators

                                 Six months to  Six months to    Increase /
                                  30 Sept 2012   30 Sept 2011    (Decrease)

Income statement - on an                                                    
underlying basis             a                                            
Underlying operating profit            £ 45.9m        £ 51.5m        (10.9)%
Underlying operating margin                5.6%           6.1%      (0.5)pp
Underlying profit before                                                   
 taxation                              £ 43.9m        £ 46.4m         (5.4)%
Underlying diluted earnings                                                
 per share                               34.9p          36.2p         (3.6)%

Income statement - as                                                      
 reported                                                                   
Revenue                               £ 815.7m       £ 842.9m         (3.2)%
Operating profit                       £ 44.8m        £ 49.3m         (9.1)%
Operating margin                           5.5%           5.8%      (0.3)pp
Profit before taxation                 £ 50.4m        £ 44.2m          14.0%
Profit after taxation                  £ 41.5m        £ 34.9m          18.9%

Diluted earnings per share               41.8p          34.8p          20.1%
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        £ 83.7m        £ 95.6m        (12.4)%
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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

Highlights

Revenue down 3.2% following UK asset management sale in 2011

Solid UK performance with growing headcount

Challenging first half in 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 associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/1678R_1-2012-11-14.pdf

 

Contact Information

Enquiries

Atkins

Uwe Krueger

chief executive officer

+ 44 (0) 20 7121 2000

Heath Drewett

Group finance director

+ 44 (0) 20 7121 2000

Kate Moy

investor relations director

+ 44 (0) 20 7121 2000

Sara Lipscombe

Group communications director

+ 44 (0) 1372 726140

Smithfield

Alex Simmons

+ 44 (0) 20 7360 4900

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