Financial performance in line with expectations
· Group revenue of more than £1.4bn (2012: £1.0bn) following the acquisition of May Gurney in July 2013
· Underlying profit before tax up 90% to £36.8m (2012: £19.4m) following the acquisition of May Gurney
· Margins maintained despite market pressures; construction margins at 2.3% (2012: 2.1%) and services margins at 4.3% (2012: 4.3%)
· Underlying earnings per share of 54.6p (2012: 38.6p), up 41%
· Exceptional charge of £22.0m (2012: £4.4m) relating to the transaction costs and the ongoing integration of May Gurney
· Net debt position of £138m (2012: net cash £60m) following the acquisition of May Gurney and continued investment to drive future growth
· Interim dividend increased by 5% to 22.5p (2012: 21.5p), reflecting the Board's confidence in the business.
Operations benefiting from new contract awards
· More than £1.5bn of new work in the period with 100% of the forecast Construction division revenue and 97% of the Services division revenue for 2014 secured and probable
· Framework and negotiated work account for 60% of awards in period
· Successful integration of May Gurney in line with expectations creating a broadened capability
· Increased order book>£6bn
