Results for the year ended 31 March 2012
"Good results, with a return to headcount growth in an economic environment that continues to be challenging."
Design and engineering consultancy group WS Atkins plc (Atkins) today announces its preliminary results for the year ended 31 March 2012.
RESULTS SUMMARY
|
2012 |
2011 |
Increase / Decrease |
|
|
Revenue |
1,711.1m |
1,564.3m |
+9.4% |
|
Operating profit |
137.2m |
107.0m |
+28.2% |
|
Underlying operating profit |
110.5m |
118.7m |
-6.9% |
|
Operating margin |
8.0% |
6.8% |
+1.2pp |
|
Underlying operating margin |
6.5% |
7.6% |
-1.1pp |
|
Profit before taxation |
135.5m |
91.0m |
+48.9% |
|
Underlying profit before tax |
101.6m |
102.7m |
-1.1% |
|
Profit after taxation |
106.8m |
72.6m |
+47.1% |
|
Diluted EPS |
106.6p |
72.7p |
+46.6% |
|
Normalised diluted EPS |
79.0p |
75.0p |
+5.3% |
| Dividend |
30.5p |
29.0p |
+5.2% |
|
Staff numbers 31 March - continuing |
17,420 |
16,978 |
+2.6% |
|
Average staff numbers |
17,489 |
16,582 |
+5.5% |
|
Net funds |
122.6m |
123.3m |
-0.5% |
|
Work in Hand |
60% |
55% |
5.0pp |
HIGHLIGHTS
- Revenue up 9%, normalised EPS up 5%
- Diversification now delivering more than 50% of Group revenue from outside the UK
- North American consultancy business margin further improved to 6.6% (2011: 5.7%)
- Strengthened balance sheet, with net funds of 122.6m and a reduced pension deficit
- Improved work in hand of 60% (2011: 55%)
- Full year dividend increased by 5.2% to 30.5 pence
- Outlook for 2012/13 remains unchanged and in line with expectations.
"We have made good progress in the last twelve months despite the challenging economic environment. During the second half we continued to diversify the business, improved cash flow, reduced our pension liabilities and are returning to growth. We remain focused on driving operational excellence throughout the business to improve margins, optimise our portfolio and meet the evolving needs of our clients. Our strategy is clear and the Group is well positioned to deliver further growth in the year ahead."
