AMEC plc Interim Results 2009 Record Trading Performance

26/08/2009


"¢ EBITA1 up 25% to £94.5 million (2008: £75.9 million)
"¢ 7.5% EBITA margin2 (2008: 6.0%); firmly on track to deliver 8.5% in 2010
"¢ Diluted earnings per share4 from continuing operations 20.8 pence, up 11%
"¢ Interim dividend increased 15% to 6.1 pence per share
"¢ Group order book £3.2 billion (June 2008: £2.5 billion; December 2008: £3.3 billion)
"¢ Average weekly net cash for 2009 expected to be £700 million before further acquisitions


Chief Executive Samir Brikho said:
"These results, achieved in a challenging trading environment, are further evidence of our improved competitive position and internal efficiency. Our investment in developing relationships with key customers continues to result in new contract awards and the quality of our backlog has never been better.
"With our Operational Excellence programme now close to completion, we expect to achieve a margin approaching eight per cent this year, and are firmly on track to deliver our group margin target for 2010 of 8.5 per cent.

"The 15 per cent increase in our interim dividend demonstrates our continuing confidence in the future. We are well positioned in long-term growth markets and upon completion of Operational Excellence, will benefit from unrivalled strength and operational flexibility. With £700 million of cash on the balance sheet, we will seek to supplement organic growth in the business with further value adding acquisitions."

» View the full half-year results

Results presentation

» Presentation slides


Media contacts:

Brunswick Group LLP:  + 44 (0)20 7404 5959
Mike Harrison
Giles Croot

AMEC plc
Frank Stokes, Media Relations Manager:  +44 (0) 1452 872121

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