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Atkins (WS) PLC announces Half Yearly Report

November 15, 2012 - London

Half year financial report for the six months ended 30 September 2012

In line with expectations and on track for the full year.

Design and engineering consultancy group WS Atkins plc (Atkins) today
announces its unaudited results for the six months ended 30 September


Key Performance

Six months to Six months to Increase /
30 Sept 2012 30 Sept 2011 (Decrease)

Income statement a
- on an underlying

Underlying operating GBP45.9m GBP51.5m (10.9)%
Underlying operating 5.6% 6.1% (0.5)pp
Underlying profit GBP43.9m GBP46.4m (5.4)%
before taxation
Underlying diluted 34.9p 36.2p 3.6)%
earnings per share

Income statement - as
Revenue GBP815.7m GBP842.9m (3.2)%
Operating profit GBP44.8m GBP49.3m (9.1)%
Operating margin 5.5% 5.8% (0.3)pp
Profit before taxation GBP50.4m GBP44.2m 14.0%
Profit after taxation GBP41.5m GBP34.9m 18.9%

Diluted earnings per 41.8p 34.8p 20.1%
Dividend b 10.00p 9.75p 2.6%
Average staff numbers c 17,482 17,529 (0.3)%
Closing staff numbers c 17,756 17,710 0.3%

Work in hand 89.5% 88.2% 1.3pp
Net funds d GBP83.7m GBP95.6m (12.4)%

a. Excludes amortisation of acquired intangibles in both 2012 and 2011,
and profit on sale of RMPA in 2012
b. Interim dividend declared for the six months to 30 September 2012
c. Staff numbers are shown for continuing operations and on a full-time
equivalent basis, including agency staff
d. Net funds comprise cash and cash equivalents plus financial assets
and loan notes receivable less borrowings


* Revenue down 3.2% following UK asset management sale in 2011

* Solid UK performance with growing headcount

* Challenging first half in North America and the Middle East

* Strong growth in Asia Pacific, Europe and Energy

* Financial position remains strong, with new funding arrangements
in place

* Interim dividend increased by 2.6%

* Overall outlook for the full year unchanged.

Commenting on the results, Uwe Krueger, chief executive officer, said:
"The Group has delivered encouraging results in line with our
expectations, with the sector and geographic spread of our business
continuing to provide resilience in challenging markets. Implementation
of our strategy continues and the outlook for the full year remains

We are pleased to be recruiting again and, in particular, are delighted
to welcome over 500 graduates to the Group this autumn.

We have been proud to be the official engineering design services
provider to the London 2012 Olympic Games. This project leaves an
important regeneration legacy in London and is proving to be a valuable
reference for both business development and staff recruitment."

Click on, or paste the following link into your web browser to view the
full announcement.

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


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