Atkins (WS) PLC Announces Final Results

LONDON, UNITED KINGDOM--(Marketwired - Jun 12, 2014) - (LSE: ATK) Design, engineering and project management consultancy WS Atkins plc (Atkins) today announces its preliminary results for the year ended 31 March 2014.

RESULTS SUMMARY

			Note		2014			2013 Restated7			Increase / Decrease
Income statement
	Revenue		1		£1,750.1m			£1,705.2m			+2.6	%
	Operating profit				£113.7m			£104.0m			+9.3	%
	Underlying operating profit		2		£116.4m			£109.7m			+6.1	%
	Operating margin				6.5	%		6.1	%		+0.4pp
	Underlying operating margin		2		6.7	%		6.4	%		+0.3pp
	Profit before taxation				£114.2m			£98.0m			+16.5	%
	Underlying profit before tax		3		£106.4m			£99.2m			+7.3	%
	Profit for the year after taxation				£96.3m			£84.3m			+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				£95.5m			£82.9m			+15.2	%
	Net funds				£188.3m			£143.0m			+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 £188.3m
• 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 Chairman

Prof Dr Uwe Krueger Chief executive officer

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