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Trading Statement

14th Apr 2010 07:00

RNS Number : 1451K
Atkins (WS) PLC
14 April 2010
 



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 2010 in advance of its preliminary results announcement on 17 June 2010.

 

The Group has continued to perform strongly and is anticipating reporting results for the year ended 31 March 2010 slightly ahead of current market expectations.

 

As confirmed in our Q3 Interim Management statement, we continue to trade confidently in what remain turbulent economic conditions. Our work in hand is good, and we have recorded a number of recent wins. Most notably, these include a ten year contract worth £350 million with Oxfordshire County Council for Highways Maintenance, Design and Construction, and our appointment as architect engineer for ITER (International Thermonuclear Experimental Reactor) as part of a consortium contract worth €150 million.

 

The Group has continued to manage its working capital requirements well, resulting in a particularly strong cash performance through the second half of the year. With net funds at 31 March 2010 expected to be around £300 million, the financial position of the Group remains strong.

 

 

Outlook

 

The Group's solid order book and end-market resilience provide us with confidence that the Group is well placed to address the challenges in the year ahead.

 

 

Enquiries

 

Heath Drewett +44 (0)1372 726140

Group finance director

 

Sara Lipscombe +44 (0)1372 726140

Group communications director

 

 

Notes to editors

 

1. 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. No obligation is assumed to update any forward-looking statements, whether as a result of new information, future events or otherwise.

 

2. Analyst conference call

 

There will be a conference call for analysts at 08.00 today. Details are available from Will Henderson at Smithfield (+44 (0)20 7903 0671).

 

3. Atkins

 

Atkins (www.atkinsglobal.com) is the UK's largest engineering and design consultancy and the world's 11th largest design firm. We have the depth and breadth of technical expertise to respond 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.

 

Recent projects include:

 

·; Major infrastructure works, such as the design and programme management of the civil works for the Dubai Metro red and green lines;

·; High profile transport planning and urban design - our innovative scheme to deliver a diagonal crossing at London's Oxford Circus has helped tackle the problem of pedestrian crowding;

·; Key rail projects - providing architectural and engineering design services on London's Crossrail, Europe's biggest civil engineering project, and designing stations, tunnelling and track systems on Gautrain, South Africa's first high speed line;

·; Multidisciplinary building design - North Wood Primary School in Darlington is an exemplar project which raises standards for environmental design and community engagement;

·; Vital water and environmental projects - as part of a joint venture, Atkins is providing technical assistance to the Water Supply and Sanitation Sector Reform Programme in Nigeria, which will benefit up to three million people.

 

Atkins was named Consultancy of the Year in the CIBSE Low Carbon Performance Awards 2010; received the first ever certification of the Carbon Trust Standard awarded to an engineering consultancy in the construction sector; and was named among The Times Top 50 Companies Where Women Want to Work 2009 and The Times Top 100 Graduate Employers 2009. Atkins was also construction and civil engineering sector winner for the fifth consecutive year in the Target National Graduate Recruitment Awards 2010 and was awarded a ROSPA Gold Medal 2010 for excellence in control of health and safety in the workplace.

 

Atkins is the official engineering design services provider for the London 2012 Olympic and Paralympic Games.

This information is provided by RNS
The company news service from the London Stock Exchange
 
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