Design and engineering consultancy group WS Atkins plc has published a confident Interim Management Statement for the period from 1 October 2009 to date.
The Group said it has continued to perform strongly following the good performance in the first half, and the year to date results have been in line with expectations – despite turbulent market conditions. Atkins said it has continued to respond proactively in adjusting staffing levels in line with prospective demand and delivering cost saving efficiencies.
The company has undertaken significant restructuring in a number of businesses in its Design and Engineering Solutions segment. This was anticipated - in particular Atkins has scaled back its water operations business due to the reduced workload requirements of the UK water companies following the final determination under AMP5 delivered late last year.
In contrast, Atkins energy business is investing in resources to meet the expected increase in demand in the nuclear and renewables sectors.
The Group said its financial position remains good, with an ongoing focus on working capital delivering a strong cash flow performance in the period.
Whilst the economic environment remains challenging, Atkins said its good performance to date underpinned its confidence for the full year results and that it would “continue to take the necessary steps to navigate successfully in difficult market conditions”.
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