Amec increases 2013 interim dividend by 15%

DividendMax Ltd.

Amec increases 2013 interim dividend by 15%


Adjusted diluted EPS 40.4 pence, up 16 per cent

o Revenue stable at £1,998 million

o EBITA £158 million, up 4 per cent

o Margin 7.9 per cent, up 40 basis points

o Completed £400 million buyback in February 2013

Operating cash flow £56 million

o Continue to expect strong cash conversion for full year

Strong order intake and record order book

Interim dividend per share up 15 per cent, to 13.5 pence

Chief Executive Samir Brikho said:

"AMEC has started 2013 solidly, with stable revenues and improving margins in the first six months.

"Our record order book of £3.9 billion demonstrates how the geographic structure is creating new opportunities for us to grow and service our clients more broadly across our four markets. We continue to see good demand for our services, despite some challenging markets and this gives us confidence to reaffirm our outlook for this year's earnings.

"A 15 per cent increase in the interim dividend signals our belief in the underlying strength of AMEC and we continue to expect to achieve an EPS of greater than 100 pence in 2014."

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