9th Sep 2009 16:30
WS Atkins plc AGM Trading Statement
At the Annual General Meeting held today, the Chairman, Ed Wallis, made the following statement to shareholders in relation to current trading. This statement also acts as the Group's pre-close trading update in advance of its half-yearly results for the six months to 30 September 2009 which will be announced on 25 November 2009.
"I am pleased to report to shareholders that, as confirmed in our Interim Management Statement of 5 August 2009, the Group continues to navigate successfully through challenging market conditions and the year to date trading has been as we anticipated.
Since the start of the year we have, as reported previously, continued to flex our resource levels to meet expected demand and our Group headcount is now around 16,500. Further restructuring costs are being incurred across the Group as a result of these reductions, which will be absorbed within our normal operating costs.
As anticipated, our Rail and Highways and Transportation businesses have started the year well, underpinned by a number of major contracts. Our operations and maintenance contract for the M25 DBFO project is due to commence this month, and our preparations are in their final stages.
Our Middle East business has begun to benefit from an easing of the regional liquidity issues and we are winning new work.
Elsewhere, the mixed picture for Design and Engineering Solutions has continued. As noted previously, our energy business has begun the year well, while it has been a relatively slow start to the year for our UK building design business and our water business. We expect the latter to pick up as we move closer to the commencement of the new five year AMP cycle on 1 April 2010.
Despite the challenging market conditions we are facing, overall the Group's trading to date has been in line with our expectations and the outlook remains unchanged."
Ends
Enquiries
Heath Drewett +44 (0)1372 726140
Group finance director
Sara Lipscombe
Group communications director +44 (0)1372 726140
Notes to editors
1. Analyst conference call
There will be a conference call for analysts at 0830 tomorrow (Thursday 10 September 2009). Details are available from Aidan Holloway at Smithfield (+44 (0)20 7903 0602).
2. Atkins
Atkins (www.atkinsglobal.com) is one of the world's leading engineering and design consultancies. We have the depth and breadth of technical expertise to respond both to the complex challenges of major infrastructure projects, and the urgent transition to a low-carbon economy. Whether it's the concept for a new skyscraper, the upgrade of a rail network, the modelling of a flood defence system or the improvement of a management process, we plan, design and enable solutions.
Atkins was named among the 20 Best Big Companies to Work For 2009 by The Sunday Times; The Times Top 100 Graduate Employers 2009; and The Times Top 50 Companies Where Women Want to Work 2008. The company was construction and civil engineering sector winner for the fourth consecutive year in the Target National Graduate Recruitment Awards 2009.
Atkins is the official engineering design services provider for the London 2012 Olympic and Paralympic Games.
3. Cautionary statement
This announcement may contain 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 anticipated. 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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