WS Atkins plc (ATK.L), a provider of consultancy and support services, Wednesday reported a 12% increase in its fiscal 2009 profit before tax, as revenues grew more than 13% from last year. In addition, the Board is recommending a final dividend, which leads to an 8% increase in total yearly dividend. Separately, the company said that James Morley, senior independent director and chairman of the Audit Committee, will retire from the Board on June 30.
WS Atkins' full-year pre-tax profit was GBP 102.7 million, up from GBP 91.9 million last year.
The company's fiscal 2009 profit attributable to equity holders was GBP 84.2 million, or 84.8 pence per share, compared with GBP 100 million, or 97.2 pence per share, last year.
Profit from continuing operations rose to GBP 84.2 million, or 84.8 pence per share, from GBP 68.6 million, or 66.7 pence per share, in the prior year. Normalized earnings per share increased 23% to 82.3 pence from 66.7 pence in fiscal 2008.
The company also reported fiscal 2009 revenues of GBP 1.49 billion, 13.2% higher than GBP 1.31 billion a year ago.
Design and Engineering Solutions posted revenues of GBP 44.7 million, a 12% rise from last year. Highways and Transportation segment's revenues rose to GBP 292.4 million from GBP 274.6 million in the previous year. Rail segment's revenue reached GBP 196.1 million in fiscal 2009, down 5.8% from GBP 208.2 million a year ago. Revenues from Middle East, China and Europe were GBP 303.2 million, up 58.2% from GBP 191.6 million in fiscal 2008.
Further, the company's Management and Project Services segment delivered full-year revenues of GBP 229.6 million, a 7.7% rise year-over-year. Full-year Asset Management revenue was GBP 47.6 million compared with GBP 52.4 million in fiscal 2008.
In the UK, the company's Rail, Highways and Transportation and Management and Project Services segments all performed well. There were good performances from the majority of the company's businesses within the Design and Engineering Solutions segment other than in the building design business which was adversely impacted by the slow down of its market. The results of small Asset Management segment were very disappointing, reflecting problems with one legacy long-term PFI facilities management contract, WS Atkins noted.
The company also stated that the result for its business in the Middle East was significantly ahead of last year, with operating profit rising 82%. The company's businesses in China and Europe both delivered increased profits.
In response to the worsening market conditions, principally in the UK and Middle East commercial and residential property-facing businesses, the company had announced the redundancy of some 1,200 staff. Approximately 600 staff has left the business by the year end, with the remainder leaving in the subsequent few months as their notice periods come to an end. At the same time, the company is continuing to recruit to fill specialist vacancies in other areas of its business, such as nuclear, which continue to experience growth in demand and to take in graduate trainees.
WS Atkins said that its Board is recommending a final dividend of 17.25 pence, making the total dividend for the year at 26 pence, an increase of 8% from 24 pence last year. If approved, the dividend will be paid on September 25 to ordinary shareholders on the register on August 14.
According to the company, Joanne Curin, who joined the Board as a non-executive director on February 10, will take the chair of the Audit Committee on June 30. Lord Boyce will assume the role of senior independent director, also on June 30.
WS Atkins also stated that it started the new financial year in a good position with work in hand representing 54% of its budgeted revenue. ATK.L is trading at 567 pence on the LSE, up 28 pence, on a volume of 246,407 shares.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.