Amec engineers 71% rise in profits review to continue
Friday 28 March 1997
Reporting an improvement in the UK construction industry, he added: "I can see more that needs to be done and in the coming months it will be done."
Amec's group turnover was up 13 per cent last year to pounds 2.7bn. Profit before exceptionals was 53 per cent higher at pounds 37.7m and exceptional items totalled a net charge of pounds 10.5m against pounds 8.8m in 1995. Interest charges are down slightly at pounds 7.5m but the tax charge has trebled to pounds 6m and earnings per share after exceptionals are up from 1.1p to 4.7p.
The dividend has been increased from 3p to 4p, although it is still a far cry from the 10.3p paid in 1991.
Net cash balances stand at pounds 63m following an inflow of almost pounds 50m for the second year running, thanks to net disposals of business and improvements in working capital.
Over half the profit again came from mechanical and electrical engineering, including a first-time contribution from Amec Rail, the track maintenance division bought last April. Profits from Fairclough Homes, the housing division, leapt to pounds 6.8m from under pounds 1m in 1995.
The shares rose 13.5p to 140.5p.
- 1 The black and blue dress: Makers considering a white and gold version
- 2 Husband and wife die holding hands within hours of each other after 67 years of marriage
- 3 What color is The Dress, white and gold or blue and black? An eyewitness gives a definitive answer
- 4 The remarkable archaeological underwater discovery that could open up a new chapter in the study of European and British prehistory
- 5 Fearne Cotton quits Radio 1 after ten years for 'family and new adventures'
Boris Nemtsov shot dead: Outspoken Putin critic who had expressed fears for his life is shot dead
Leonard Nimoy dead: Star Trek actor dies after suffering lung disease
PornHub turns masturbation into energy in bid to save the planet
Ukraine crisis: Top Chinese diplomat backs Putin, says West should 'abandon zero-sum mentality'
What color is The Dress, white and gold or blue and black? An eyewitness gives a definitive answer
New theory could prove how life began and disprove God
Half of Ukip voters say they are prejudiced against people of other races
'Cash for access' scandal: Sir Malcolm Rifkind says 'unrealistic' for MPs to live on £67,000 salary
This is what it's like to be dead, according to a guy who died for a bit
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Aqsa Mahmood branded a 'disgrace' by her parents after claims she recruited three UK girls flying to Middle East
iJobs Money & Business
£40000 - £50000 per annum + pro rata: SThree: SThree Group have been well esta...
£30000 - £37000 per annum: Recruitment Genius: Established in 1999, a highly r...
£250-£300 Day Rate: Jemma Gent: Are you a qualified accountant with strong exp...
£230 - £260 Day Rate: Jemma Gent: Do you want to stamp your footprint in histo...