Turnover £80.0m (2007: £75.2m)

Highlights


Financial



  • Turnover up 8% to £80.9 million (2007: £75.2 million)

  • Adjusted operating profit up 28% to £11.0 million (2007: £8.6 million) 1

  • Operating profit up 5% to £9.9 million (2007: £9.4 million)

  • Adjusted profit before tax up 26% to £9.1 million (2007: £7.2 million) 1

  • Profit before tax of £8.0 million (2007: £8.0 million)

  • Adjusted earnings per share (EPS) up 30% to 7.9 pence (2007: 6.1 pence) 2

  • Earnings per share of 7.0 pence (2007: 6.8 pence)

  • Secure sales for the coming year £50.5 million (2007: £48.5 million) 3

  • Net debt £19.4 million (31 March 2007: £21.4 million)

Strategic and operational



  • Intention to make strategic acquisition of Project Performance Corporation

  • Strong growth in consultancy private sector sales, up 24%

  • Important strategic business wins in China and the EU

  • Renewal of one of the UK’s largest Government carbon reduction contracts

  • UN acknowledgement of the quality of AEA’s emissions work

  • Good progress in reducing legacy issues 4
1 Reconciliation of adjusted operating profit and adjusted profit before tax
              Operating profit               Profit before tax
For the year ended 31 March 2008
£m		   2007
£m 		  2008
£m		   2007
£m
Operating profit 9.9   9.4   ""   ""
Profit before tax ""   ""   8.0   8.0
Acquisition and Rights Issue costs 1.1   –   1.1   –
Curtailment loss in pension scheme –   0.8   –   0.8
Exceptional past service credit in pension scheme –   (2.0)   –   (2.0)
Re-financing costs –   0.4   –   0.4
Adjusted operating profit 11.0   8.6   ""   ""
Adjusted profit before tax ""   ""   9.1   7.2
   
2 Adjusted earnings per share is stated using earnings adjusted for certain one–off items. See note 10 for details of the adjusted earnings per share calculation.
3 Secure sales are the element of orders to date that the Group expects to be delivered in the coming financial year.
4 Refer to Financial performance, Legacy

 

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