Highlights
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Underlying profit before tax up 8.2% to £44.7m on revenue 12.2% ahead |
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Strong UK performance with revenue up 16% and good growth in focus areas of Energy and Asia Pacific |
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Strategic progress with the sale of UK highways services and Peter Brown construction management disposal |
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Confluence project management business acquired on 4 October 2013 |
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Improved operating cash performance with net funds at September 2013 of £136.1m |
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Financial position remains strong, with new five year revolving credit facility secured |
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Interim dividend increased by 5% |
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Full year outlook slightly ahead of expectations. |
Commenting on the results, Uwe Krueger, chief executive officer, said:
"The Group has made further progress on delivering our strategy, achieving good results with revenue up over 12% and underlying operating profit up over 10% on the same period last year.
In October, we were delighted to welcome 200 people from our Confluence acquisition which, augments our project management capabilities in Asia Pacific, the Middle East and India.
We have a strong balance sheet and cash collection in the period was encouraging. This, combined with our new banking facilities, gives us the ability to support growth, both organically and through targeted acquisitions.
Our work in hand position on entering the second half gives us confidence for the full year."
