Preliminary Results December 2002
Date : 04 March 2002
|Turnover - including joint ventures|
|Profit before tax - pre goodwill amortisation|
|Earnings per share - pre goodwill amortisation|
|Dividend per share|
- 120 new contracts awarded
- 140 contracts successfully rebid or extended
- New business won totalling £1.4 billion
- Order book up from £5.8 billion to £6.2 billion
- New bid win rate over 70%; rebid retention rate over 90%
- Strong growth in continental Europe with new awards in Italy, Germany, Belgium and Sweden
- £69.4 million acquisition of AEA Technology's consulting business strengthens position in science
- New education business established with £35 million first-year turnover including contracts in Bradford and Walsall
- Started a 10-year, £160 million PFI contract to design, build and operate England's national Traffic Control Centre
- Preferred bidder status for two 12-year leisure contracts with Manchester City Council
- Major contracts renewed include the National Physical Laboratory, Docklands Light Railway and three European Space Agency contracts
- February 2002 - As part of Paradigm, selected as preferred bidder for Skynet 5 - Serco contract worth £220 million.
Richard White, Executive Chairman, said:
"This represents a very strong performance. We maintained excellent growth in sales and profits, exceeding the results targeted at the start of the year.
Our forward earnings are highly visible and our margins have continued to grow. We remain a highly predictable business. We have already secured 82% of our forecast turnover for 2002 and a significant amount beyond and continue to anticipate strong growth. And there is no letup in new prospects: we are currently evaluating contract opportunities worth a total of some £15 billion."
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