RE: Gone up like a lift17 Jun 2020 11:24
Highlights of expected first half performance
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Revenue growth of around 23%, including organic growth of 14%.
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Underlying trading profit of £75m-£80m, around 50% higher than the first half of 2019, driven primarily by our overseas businesses including the impact of the acquisition in August 2019 of the Naval Systems Business Unit of Alion in North America.
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Significant operational challenges as a result of Covid-19 but limited financial impact in the first half, as the losses in some parts of the Group have been largely offset by additional work to help our customers elsewhere.
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Strong order intake of around £1.8bn; book-to-bill ratio expected to be around 100%.
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Robust financial position with headroom on our committed facilities expected to be at least £300m at 30 June; adjusted net debt expected to be around £200m, and leverage around 1.0x.
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Reinstating guidance, reflecting the resilience of our business as a supplier of critical services to governments globally.