News Releases
Interim Results for Half-Year Ending 1 July 2000 - Further Significant Progress
16 Aug 2000- Pre-tax, pre-exceptional profits of £35 million (1999: £16 million)
- £12 million net exceptional profit from cable disposals
- Pre-exceptional earnings per share of 3.9p (1999: 0.9p)
- £135 million net cash and strong operating cash flow
- Record order book set to increase further
- Recent US rail and security system acquisitions strengthen core businesses
- Prospects in principal markets healthy and improving
- Operating profits improve to £14 million
- Preferred bidder for five-year, £500 million BT premises management
- Operating profits improve to £10 million
- Further profit progress in US engineering
- Maintenance profits fall as principal contracts renegotiated
- Preferred bidder for £600 million UK rail maintenance contracts
- Operating profits improve to £18 million
- UCL Hospital and Aberdeen Waste Water concessions secured
Building, Building Management and Services
Civil and Specialist Engineering and Services
Rail Engineering and Services
Investments and Developments
"We will continue to strengthen our core businesses and are evaluating further potential acquisitions and investments in growth markets. We believe that our momentum in improving efficiency and business processes will continue to contribute to profit improvement.
"Trading conditions in the short term continue to be broadly positive, although there remains a shortage of major project work in the UK pending the delivery of the planned investment programmes. We anticipate that the group will make further progress in the second half of this year, and will be well positioned for next year."
Viscount Weir, Chairman
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