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Thursday preview: WS Atkins reports full-year results

Wed, 10th Jun 2015 16:29

Engineering and project management consultancy WS Atkins on Thursday delivers its full-year results, which are expected to show a slight improvement in revenue.Numis predicts the company will post a 2% increase in organic revenue growth, reflecting a tough comparison, with margins showing modest underlying progress."The shares have performed well recently, somewhat closing the enterprise value net operating profit after tax (EV/NOPAT) valuation gap with global peers," said Numis analyst Will Wallis."However we think that a calendar year 2016 EV/NOPAT multiple of c.12.5x remains attractive."In a pre-close trading statement in April, the company said it had "continued to trade well through the fourth quarter, with very good cash flow generation, and we expect to report underlying results for the year ended 31 March 2015 in line with expectations".The group said the performance of is UK business had picked up in the second half compared to the first after resolving contract variation negotiations in the rail business.The North America division had seen better productivity after being streamlined while the Middle East enjoyed a good second half on significant rail and metro projects.The Hong Kong and mainland China businesses have traded in line with the group's expectations but Atkins warned the slowdown in mainland China was expected to continue.Atkins also noted that its oil and gas segment had performed well in the second half following the acquisition of Nuclear Safety Associates and Houston Offshore Engineering. However, "we continue to monitor the trading environment closely given the impact of a lower oil price on our clients' spending levels and we will proactively adjust our resources to reflect anticipated activity levels", the group said.Other companies reporting on Thursday include PZ Cussons, Mulberry, Home Retail and Halma.INTERIMSCareTech Holding, Redhall Group, VolexINTERIM EX-DIVIDEND DATEBritish Empire Securities & General Trust, Connect Group, Foresight 2 VCT Infrastructure Shares, Hargreave Hale AIM VCT 1, Majedie Investments, Octopus Eclipse VCT 1, Shaftesbury, Standard Life European Private Equity Trust, Temple Bar Inv Trust, Topps Tiles, Victrex plcQUARTERLY EX-DIVIDEND DATEBlackRock Income Strategies Trust , Ediston Property Investment Company, XP Power Ltd. (DI)INTERNATIONAL ECONOMIC ANNOUNCEMENTSBusiness Inventories (US) (15:00)Continuing Claims (US) (13:30)Import and Export Price Indexes (US) (13:30)Initial Jobless Claims (US) (13:30)Manufacturing Inventories (US) (15:00)Retail Sales (US) (13:30)Retail Sales Inventories (US) (15:00)GMSWildhorse Energy Ltd. (DI)FINALSAtkins (WS), First Property Group, Halma, Mulberry Group, Real Estate Credit Investments PCC Ltd, Wynnstay PropertiesIMSSHome Retail GroupSPECIAL EX-DIVIDEND PAYMENT DATELondonMetric Property, Spirax-Sarco EngineeringAGMSAscent Resources, Black Sea Property Fund Ltd (The), Camkids Group, Dignity, e-Therapeutics, Graphite Enterprise Trust, Martin Currie Global Portfolio Trust, MX Oil, REA Holdings, Scisys, Serabi Gold, Source BioScience, Verona PharmaTRADING ANNOUNCEMENTSPZ CussonsUK ECONOMIC ANNOUNCEMENTSRICS Housing Market Survey (09:30)FINAL DIVIDEND PAYMENT DATENetplay TVFINAL EX-DIVIDEND DATEAcal, Anglo-Eastern Plantations, Ashley (Laura) Holding, Big Yellow Group, Booker Group, Camellia, Cineworld Group, Edinburgh Inv Trust, Intermediate Capital Group, Johnson Matthey, Judges Scientific, London Security, LondonMetric Property, M&C Saatchi, Mears Group, Prime People, Restore, Scottish Mortgage Inv Trust, Sirius Real Estate Ltd., Speedy Hire, Tribal Group, Vianet Group, Vodafone Group, Weiss Korea Opportunity Fund Ltd, Young & Co's Brewery 'A' Shares, Young & Co's Brewery (Non-Voting)Q1Summit Therapeutics
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Broker tips: European recruiters, Mitie, WS Atkins

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WS Atkins slumps on Liberum downgrade

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WS Atkins Says Outlook Unchanged Despite US Period Of Uncertainty

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