Profits down but dividend up at Atkins

Design and engineering consultancy WS Atkins said it had performed well over the last year despite tough conditions and was boosting its dividend.

The company reported revenues up 9.4% to £1.7bn in the year to the end of March, with earnings per share up 5% to 7.9p.

Pre-tax profits were up 48% to £135.5m, although this included the sale of its UK asset management business, which netted £7.2m.

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When one-off costs were stripped out underlying profits were down 1% to £101.6m.

The firm proposed a final dividend of 20.75p making the total dividend for the year 30.5p, an increase of 5.2%.

As a result of a programme of diversification, the firm said more than 50% its revenue was now coming from outside the UK.

It added that the outlook for 2012/13 was unchanged and in line with expectations.

"We remain focused on driving operational excellence throughout the business to improve margins, optimise our portfolio and meet the evolving needs of our clients," said Chairman Allen Cook.

"Our strategy is clear and the group is well positioned to deliver further growth in the year ahead."