Costain Group PLC (COST.L), an engineering and construction company, reported Tuesday that its fiscal 2023 profit before tax fell to 30.9 million pounds from last year's 32.8 million pounds.
Earnings per share were 8.1 pence, down from 9.4 pence a year ago.
Adjusted profit before tax was 44.2 million pounds, compared to 34.2 million pounds last year. Adjusted earnings per share were 12.2 pence, compared to 9.9 pence a year earlier. Adjusted operating margin increased as expected to 3.0 percent.
Revenue fell 6.3 percent to 1.33 billion pounds from last year's 1.42 billion pounds.
Further, the Board is proposing a final dividend of 0.8p per share which, if approved, will be paid on May 28 to shareholders on the register at the close of business on April 19. This makes a full year dividend of 1.2 pence per share, up from 0.0 pence last year.
Looking ahead, the company said it remains on track to deliver an adjusted operating margin run-rate of 3.5 percent during fiscal 2024 and 4.5 percent during fiscal 2025, in line with its ambition to deliver margins in excess of 5.0 percent.
The company also said it remains confident in its strategy and longer-term prospects.
As announced separately, Bishoy Azmy has also decided to step down from the Board with effect from March 31.
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