Design, engineering and project management consultancy WS Atkins plc (Atkins) today announces its preliminary results for the year ended 31 March 2015.
Note | 2015 |
2014 |
Increase/ Decrease | |
Income statement | ||||
Revenue | 1 | £1,756.6m | £1,750.1m | +0.4% |
Operating profit | £118.5m | £113.7m | +4.2% | |
Underlying operating profit | 2 | £134.1m | £116.4m | +15.2% |
Operating margin | 6.7% | 6.5% | +0.2pp | |
Underlying operating margin | 2 | 7.6% | 6.7% | +0.9pp |
Profit before taxation | £106.7m | £114.2m | -6.6% | |
Underlying profit before tax | 3 | £121.9m | £106.4m | +14.6% |
Profit for the year after tax | £85.7m | £96.3m | -11.0% | |
Diluted EPS | 85.4p | 95.8p | -10.9% | |
Underlying diluted EPS | 4 | 97.1p | 85.7p | +13.3% |
Dividend | 36.5p | 33.75p | +8.1% | |
People | 5 | |||
Staff numbers 31 March | 18,462 | 17,489 | +5.6% | |
Average staff numbers | 17,898 | 17,565 | +1.9% | |
Cash | ||||
Operating cash flow | £133.9m | £95.5m | +40.2% | |
Net funds | £179.3m | £188.3m | -4.8% | |
Work in Hand | 6 | 51% | 51% | n/a |
- Organic, constant currency revenue up 4.6%
- Underlying operating profit up 15.2%, improved margin of 7.6%
- Underlying diluted EPS up 13.3%, full year dividend up 8.1%
- Strong operating cash flow up 40.2% to £133.9m and year end net funds of £179.3m
- Strong performance in Middle East, Asia Pacific and Energy
- North American performance improving, UK and Europe mixed
- Additional skills, clients and geographic exposure added with the acquisitions of Houston Offshore Engineering, Nuclear Safety Associates and Terramar
"We have delivered good results with solid growth in profitability and excellent cash performance. Margin progression has continued towards our 8% goal and the outlook remains positive."
Allan Cook CBE Chairman |
Prof Dr Uwe Krueger CEO |
- Revenue excludes the Group's share of revenue from joint ventures.
- Underlying operating profit excludes amortisation of acquired intangibles. In addition, 2015 excludes exceptional transaction costs, impairment of goodwill and deferred acquisition payments. It includes £5m benefit of UK research and development expenditure credit following the Group's adoption of the new regime.
- Underlying profit before tax additionally excludes net profit on disposal of businesses of £0.4m (2014: £10.5m).
- Underlying diluted EPS is based on underlying profit after tax and allows for the dilutive effect of share options.
- Staff numbers are shown on a full time equivalent basis, including agency staff.
- Work in hand is the value of contracted and committed work as at 31 March that is scheduled for the following financial year, expressed as a percentage of budgeted revenue for the year.
Enquiries
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Notes to editors
1. Atkins
2. Attachments
3. Analyst Presentation
4. Cautionary Statement This announcement contains indications of likely future developments and other forward looking statements that are subject to risk factors associated with, among other things, the economic and business circumstances occurring from time to time in the countries, sectors and business segments in which the Group operates. These and other factors could adversely affect the Group's results, strategy and prospects. Forward looking statements involve risks, uncertainties and assumptions. They relate to events and/or depend on circumstances in the future which could cause actual results and outcomes to differ materially from those currently expected. No obligation is assumed to update any forward looking statements, whether as a result of new information, future events or otherwise. |
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