Financial performance in line with expectations
- Strong revenue growth of 13%, of which 10% was organic, with organic growth in all business segments
- Good growth in underlying profit before taxation and earnings per share
- Strong underlying cash flow from operations
- Net borrowing reduced to £169.8 million at 31 December 2015 (2014: £177.3 million)
- Considerable financial strength with some £1.4 billion of funding available to support our strategy for growth
Robust, high-quality order book and a growing pipeline of contract opportunities
- New orders and probable orders worth £3.7 billion (2014: £5.1 billion), reflecting the expected impact in the first half of the UK General Election, with £2.7 billion secured in the second half of the year
- Total value of secured and probable orders remained strong at £17.4 billion (2014: £18.6 billion), after removing £0.3 billion from the order book due to selling equity investments in Public Private Partnership projects
- Strong revenue visibility(2) for 2016 of 84% (2014: 85% for 2015)
- Awarded framework agreements worth over £2.0 billion, which is not yet included in the order book or in probable orders, but will give further revenue growth opportunities
- Pipeline of specific contract opportunities increased to £41.4 billion (2014: £39.2 billion) in markets offering good growth potential
Proposed full-year dividend increased by 3% to 18.25p (2014: 17.75p)
Well positioned to make further progress in 2016
