Thursday preview: WS Atkins reports full-year results
Engineering and project management consultancy WS Atkins on Thursday delivers its full-year results, which are expected to show a slight improvement in revenue.
Atkins (WS)
2,081.00p
16:49 30/06/17
FTSE 250
19,824.16
16:59 26/04/24
FTSE 350
4,470.09
16:59 26/04/24
FTSE All-Share
4,423.59
17:14 26/04/24
Support Services
10,641.76
16:59 26/04/24
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.
INTERIMS
CareTech Holding, Redhall Group, Volex
INTERIM EX-DIVIDEND DATE
British 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 plc
QUARTERLY EX-DIVIDEND DATE
BlackRock Income Strategies Trust , Ediston Property Investment Company, XP Power Ltd. (DI)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Business 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)
GMS
Wildhorse Energy Ltd. (DI)
FINALS
Atkins (WS), First Property Group, Halma, Mulberry Group, Real Estate Credit Investments PCC Ltd, Wynnstay Properties
IMSS
Home Retail Group
SPECIAL EX-DIVIDEND PAYMENT DATE
LondonMetric Property, Spirax-Sarco Engineering
AGMS
Ascent 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 Pharma
TRADING ANNOUNCEMENTS
PZ Cussons
UK ECONOMIC ANNOUNCEMENTS
RICS Housing Market Survey (09:30)
FINAL DIVIDEND PAYMENT DATE
Netplay TV
FINAL EX-DIVIDEND DATE
Acal, 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)
Q1
Summit Therapeutics