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16/06/2016
Atkins Reaches 8% Operation Margin Target
Engineering consultancy Atkins has reached its 8% operating margin target and reported "strong growth" in the year to March.
The company revealed revenue was up 6% to £1.86 billion (2015: £1.76 billion) while underlying profit rose 10.5%.
In addition, the Group's pre-tax profits reached £131.1 million this year compared to £106.7 million in 2015.
Earlier this year, the company restructured its UK operating model from six to four divisions. However, Atkins stated its Energy business had a "mixed year", with a strong performance in its nuclear, power and renewables divisions, while difficult trading conditions were experienced in its oil and gas business' due to the fall in oil price.
The company's Chairman Allan Cook said: "We are delighted to have achieved our 8% operating margin target against headwinds in certain markets. These are good results with strong growth in profitability and underlying diluted EPS. Overall, we remain confident for the year ahead despite continued uncertainty in some of our markets."
(LM/MH)
The company revealed revenue was up 6% to £1.86 billion (2015: £1.76 billion) while underlying profit rose 10.5%.
In addition, the Group's pre-tax profits reached £131.1 million this year compared to £106.7 million in 2015.
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Earlier this year, the company restructured its UK operating model from six to four divisions. However, Atkins stated its Energy business had a "mixed year", with a strong performance in its nuclear, power and renewables divisions, while difficult trading conditions were experienced in its oil and gas business' due to the fall in oil price.
The company's Chairman Allan Cook said: "We are delighted to have achieved our 8% operating margin target against headwinds in certain markets. These are good results with strong growth in profitability and underlying diluted EPS. Overall, we remain confident for the year ahead despite continued uncertainty in some of our markets."
(LM/MH)
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