Atkins (WS) PLC Trading Statement (2801W)
February 08 2017 - 1:00AM
UK Regulatory
TIDMATK
RNS Number : 2801W
Atkins (WS) PLC
08 February 2017
Atkins trading in line with expectations
WS Atkins plc ("Atkins" or the "Group"), the design, engineering
and project management consultancy, today provides its third
quarter trading update for the period from 1 October 2016 to
date.
Group performance
The Group has traded in line with expectations during the
period, with continued currency benefits as anticipated, and the
outlook for the full year remains unchanged.
United Kingdom and Europe (51% of FY16 revenue)
Trading performance in our UK and Europe business has continued
strongly through the third quarter, with good delivery on a number
of projects in the period. We continue to address strong, albeit
competitive, markets as the Government supports infrastructure
projects in energy, high speed rail, highways and airports.
During the period we were pleased to complete the sale of our
minority PFI investment in the M25 motorway to Edge Orbital
Holdings 2 Limited, for a cash consideration of GBP66.3m.
North America (19% of FY16 revenue)
Our North American business has enjoyed another good trading
period, buoyed by transportation work on Project NEON and our
design of the Purple Line light rail project. We continue to expect
the business to deliver strong revenue growth and an improved
operating margin for the full year. Looking beyond this, we are
encouraged by the proposed level of infrastructure spend and are
focused on securing larger scale opportunities.
Middle East (13% of FY16 revenue)
The performance of our Middle East region has been in line with
our expectations during the third quarter. Challenging market
conditions remain, though we expect to continue to deliver to
expectations for the year as a whole. While we remain cautious
around the outlook for the region, given competitive markets and
ongoing uncertainty as to the timing of pipeline opportunities, our
strong market position and reputation for successful delivery
continue to serve us well.
Asia Pacific (6% of FY16 revenue)
The performance of our Asia Pacific region has been stable in
the period. We have recently secured some additional design
packages of work on the third runway at Hong Kong International
Airport and architectural wins in southeast Asia.
Energy (11% of FY16 revenue)
Our nuclear business, which represents around 70% of our energy
segment, has performed well in the period. We are encouraged to see
an improved project flow at Sellafield and the US Tier 1
decommissioning market is developing well for us, following the
acquisition of PP&T. Elsewhere, there are early, encouraging
signs of a stabilisation in the oil and gas market.
Balance sheet
The Group's financial position remains strong.
Outlook
The Group has traded in line with expectations during the
period, with continued currency benefits as anticipated, and the
outlook for the full year remains unchanged. We are confident that
our focus on differentiation in nuclear, digital innovation and
advisory will deliver further growth into next year and beyond.
The Group will publish a pre close trading update on 12 April
2017.
Ends
Enquiries
Heath Drewett
Group finance director +44 (0) 20 7121 2000
Kate Moy
Investor relations director +44 (0) 20 7121 2000
Matt Graydon
Group PR director +44 (0) 20 7121 2000
1. Notes to editors
Atkins (www.atkinsglobal.com) is one of the world's most
respected design, engineering and project management consultancies,
employing some 18,300 people across the UK, North America, Middle
East, Asia Pacific and Europe. We build long term trusted
partnerships to create a world where lives are enriched through the
implementation of our ideas. You can view Atkins' recent projects
on our website.
2. Analyst Conference Call
A conference call for analysts will be held at 0800 hours today.
Dial-in details are available on +44 (0) 20 7353 4200.
3. Cautionary Statement
This announcement has been prepared for the shareholders of
Atkins as a whole and its sole purpose and use is to assist
shareholders to exercise their governance rights. In particular,
this announcement has not been audited or otherwise independently
verified and no warranty is given as to its accuracy or
completeness (other than any such warranty which is mandatorily
implied by statute). 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 and their responsibility to
shareholders shall be limited to that which is imposed by
statute.
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 expected. No obligation is assumed to update any forward
looking statements, whether as a result of new information, future
events or otherwise. Nothing in this announcement should be
construed as a profit forecast.
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTUGUGAPUPMGRM
(END) Dow Jones Newswires
February 08, 2017 02:00 ET (07:00 GMT)
WS Atkins (LSE:ATK)
Historical Stock Chart
From Apr 2024 to May 2024
WS Atkins (LSE:ATK)
Historical Stock Chart
From May 2023 to May 2024