2nd Aug 2007 07:01
Atkins (WS) PLC02 August 2007 Q1 2007/8 Interim Management Statement WS Atkins plc ("Atkins" or "the Group"), the design and engineering consultancygroup, today provides its first Interim Management Statement for the quarterended 30 June 2007, as required by the UK Listing Authority's Disclosure andTransparency Rules. Financial Position and Performance of the Group The Group as a whole has started the year in line with our expectations and ourcore markets remain robust. As expected staff turnover has increased slightly but our planned recruitmentmeasures have enabled us to increase our total staff from 15,900 (adjusted forthe disposal of Lambert Smith Hampton) to 16,400, broadly as anticipated. The Group's financial position is good with cash flows in line with ourexpectations. Material Events and Transactions On 18 July 2007, a PPP Administrator was appointed to take over the managementof the Metronet PPP Companies. This had no impact upon the Group's balancesheet as the carrying value of its investment in the Metronet PPP Companies was£Nil. The future of the Group's supply chain contracts associated with Metronetremains uncertain whilst Metronet is in administration. However, the Group'sresults for the full year are not dependent upon a renegotiation of thesecontracts. On 20 July 2007, the sale of Lambert Smith Hampton to its management team, whichwas announced on 26 June 2007, was completed with a profit on disposal of £20million. Outlook Our forward workload remains strong and we are confident that the Group willcontinue to progress in the year. Enquiries Atkins: Robert MacLeod, Group Finance Director +44 (0) 1372 726140 Sara Lipscombe, Group Communications Director This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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