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Financial highlights

Please see the 2013 financial highlights below.

  H1 2013 H1 2012  
Consolidated revenue £1,068.2m £984.0m +8.6%
Headline pre-tax profit* £36.8m £34.2m +7.6%
Headline earnings per share* 21.4p 20.3p +5.4%
Cash / (net debt) £0.7m (£39.9m)  
Interim dividend 6.8p 6.4p +6.3%

Highlights

  • Record Group revenues of more than £1 billion (+8.6%) in mixed market conditions.
  • Over £1.5 billion of new contracts, increasing future workload to £6.7 billion (FY 2012: £6.3 billion).
  • Key contract wins with both new and existing clients including three NHS Trusts in and around Leicester, East Thames Group, the Royal Navy, Magnox, Jaguar Land Rover, the Haymarket development in Edinburgh, the Lusail Tower in Qatar and the Emirates Engine Maintenance Centre in Dubai.
  • Acquisition integrations proceeding well, opening up additional opportunities with new and existing clients.
  • Strong balance sheet with the capacity to support future growth.

Chief Executive Adrian Ringrose commented:

"We have delivered record revenues and further improved our overall margin in the face of a challenging operating environment based, in particular, on a strong performance in our UK Support Services division. Although performance in International Construction was mixed, we reported strong results within our Equipment Services division, a leading indicator of future construction demand as market conditions begin to improve. We also continued to deliver a resilient performance in UK Construction.

"Strategically, we have made significant progress during the period, successfully structuring and integrating further acquisitions, expanding our service offering and footprint in the oil and gas sector, the interior fit-out market and the delivery of key front-line services.

"Our financial position remains strong which, together with our growing future workload, underpins the Board's confidence in our ability to deliver our medium-term strategy, reiterating guidance for 2013 and increasing the interim dividend to 6.8 pence."

Adrian Ringrose
Chief Executive

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