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WS Atkins trades well though Middle East remains shaky

Wed, 08th Feb 2017 07:52

(ShareCast News) - Design, engineering and project management consultancy WS Atkins provided its third quarter trading update for the period from 1 October 2016 to date on Wednesday, saying it traded in line with expectations during the period with continued currency benefits as anticipated, and the outlook for the full year remaining unchanged.The FTSE 250 firm said trading performance in its UK and Europe business 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 £66.3m."Atkins' North American business enjoyed another good trading period, buoyed by transportation work on Project NEON and its 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."The performance of the company's Middle East region was in line with board expectations during the third quarter, the company claimed."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."And in the Asia Pacific region, performance was 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."The company added that its nuclear business, which represents around 70% of its energy segment, 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."The group said its financial position remained strong, and was confident that its focus on differentiation in nuclear, digital innovation and advisory would deliver further growth.

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13 Apr 2016 13:30

Broker tips: Cobham, Atkins, Inchcape

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13 Apr 2016 10:14

Numis leaves Atkins at 'buy' after trading update

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13 Apr 2016 07:57

WS Atkins to meet full year expectations

(ShareCast News) - WS Atkins said it traded well through the fourth quarter and expects underlying results for the year to the end of March to be in line with views. The FTSE 250 engineering and project management consultancy said its UK and Europe business is expected to show good margin progress i

13 Apr 2016 06:37

WS Atkins Set To Meet Expectations Amid Good Second Half Trading

13 Mar 2016 15:18

Sunday newspaper round-up: Budget, Sainsbury's, Virgin Media, Reuters

(ShareCast News) - George Osborne look to grab as much as £20bn to fill shortfalls in his Budget this Wednesday, making deep cuts in public spending, an increased insurance premium tax and other new or increased duties and taxes, while also looking to cut taxes for North Sea oil producers. The Sunda

23 Feb 2016 13:51

Tuesday broker round-up

(ShareCast News) - HSBC: JP Morgan reiterates underweight with a target price of 410p and UBS stays at buy, 490p target. Just Eat: Investec reiterates buy with a target price of 435p. Glencore: Exane BNP Paribas keeps at outperform with a target of 145p. Ashmore Group: UBS starts coverage at neutr

23 Feb 2016 13:51

Tuesday broker round-up

23 Feb 2016 13:29

Broker tips: Focusrite, WS Atkins, Just Eat

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23 Feb 2016 10:10

RBC upgrades WS Atkins on medium-term outlook

(ShareCast News) - RBC Capital Markets has upgraded WS Atkins from 'sector perform' to 'outperform' on its medium-term outlook, but reduced its target price from 1,550p to 1,400p. In a note released on Tuesday, the investment bank said current trading is mixed for the FTSE 250 design, engineering an

15 Feb 2016 18:27

Monday broker round-up

(ShareCast News) - Hargreaves Lansdown: Shore Capital upgrades to buy. Antofagasta: Peel Hunt Limited downgrades to hold with a target price of 425p. Atkins: Citigroup upgrades to neutral with a target of 1160p, from 1120p. Hays: HSBC upgrades to buy with a 155p target. IAG: Bank of America upgra

15 Feb 2016 13:04

FTSE 250 movers: Fidessa and pub companies lead rise

(ShareCast News) - UK midcaps were chasing their blue chip brethren higher on Monday as bargain hunters regained confidence. By late afternoon the FTSE 250 was 1.9% higher at 15,725.05. Enterprise Inns frothed higher after investors took courage from chairman Robert Walker shelling out just over £50

14 Feb 2016 17:39

Sunday newspaper round-up: Bank funding, North Sea oil tax, HSBC, Anglo

(ShareCast News) - The European Central Bank and its London counterpart have held talks after the Bank of England raised the alarm over the potential threat of a funding crisis in the banking sector. Three senior London bankers have told the Sunday Times that their normal efforts to raise money from

12 Feb 2016 14:57

DIRECTOR DEALINGS: WS Atkins Chairman Ups Interest

10 Feb 2016 08:04

WS Atkins Trading Remains On Track Despite Headwinds In Some Markets

10 Feb 2016 07:41

Atkins remains stable despite some trading headwinds

(ShareCast News) - WS Atkins continued to trade in line with expectations in the three months from 1 October 2015, the company's fiscal third quarter, despite difficulties in some markets. According to a trading update issued on Wednesday, the FTSE 100 design, engineering and project management cons

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