11th Apr 2012 07:00
Pre-Close Trading Update
WS Atkins plc ("Atkins" or "the Group"), the design and engineering consultancy group, today provides an update on trading for the year ended 31 March 2012 in advance of its preliminary results announcement on 14 June 2012.
Overall, the Group has traded well through its fourth quarter and expects to report results for the year ended 31 March 2012 in line with market expectations.
The UK region has ended the year well and, as anticipated, saw modest growth in underlying headcount in the second half of the year. Despite the previously announced delay in contract awards in the UK rail signalling business, the second half operating margin for the UK segment is expected to show progress on that reported in the first six months of the year.
While the North American consultancy business has seen its previously reported slow start to the second half continue in the fourth quarter, a year on year margin improvement is still anticipated for this business.
The Group's operations in the Middle East and Energy have continued to enjoy strong market conditions and have ended the year trading in line with our expectations.
Atkins' financial position remains strong. The Group's increased focus on working capital management will contribute to it reporting net funds of around £120 million as at 31 March 2012.
Outlook
Atkins' geographic and sector diversification continues to provide resilience which will be reflected in the reported results for the year ended 31 March 2012. The Group is progressing well with its three strategic themes, as outlined at the time of its half year results in November 2011, positioning it to deliver further earnings growth in the year ahead.
Ends
Enquiries
Heath Drewett Group finance director
| +44 (0) 20 7121 2000 |
Kate Moy Investor relations director
| +44 (0) 20 7121 2000 |
Sara Lipscombe Group communications director
| +44 (0) 1372 726140 |
Notes to editors
1. Atkins
Atkins (www.atkinsglobal.com) is one of the world's leading engineering and design consultancies*, employing some 17,700 people across the UK, North America, Middle East, Asia Pacific and Europe. It has the breadth and depth of expertise to plan, design and enable some of the world's most technically challenging and time critical infrastructure projects.
*It is the largest engineering consultancy in the UK (New Civil Engineer Consultants File 2012) and the 13th largest global design firm (Engineering News-Record 2011).
Atkins is the official engineering design services provider for the London 2012 Olympic and Paralympic Games.
2. Analyst Conference Call
A conference call for analysts will be held at 0800 hours today. Dial-in details are available from Kate Moy, investor relations director, +44 (0) 20 7121 2000.
3. Cautionary Statement
This information has been prepared only for the shareholders of Atkins as a whole and its sole purpose and use is to assist shareholders to exercise their governance rights. Atkins and its directors and employees are not responsible for any other purpose or use or to any other person in relation to this announcement.
This announcement contains 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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