Waterman Delivers Results Above Three Year Targets
Waterman Group plc, the engineering and environmental consultancy, today announces its Preliminary Results for the year ended 30 June 2016.
View the Preliminary Results for the year ended 30 June 2016 as a pdf, please click here.
* Adjusted for exceptional items (2016: nil, 2015: £0.4m).
** Return on Capital Employed is calculated as adjusted operating profit divided by average capital employed where capital employed is equity less goodwill less net funds.
Commenting on the results, Nick Taylor, Chief Executive said:-
“ Waterman is in excellent shape, having reported results which exceed its previously declared financial objectives over the three year period to 30 June 2016 of tripling adjusted annual profit before tax to £3.3m, delivering £3.6m and increasing Return on Capital Employed to over 20%, delivering 47%.”
“ Over the last three years, the Group has delivered a six times increase in the annual dividend paid to shareholders to 3.0p from 0.5p and during the same period, after paying shareholders dividends of £1.4m, net funds have increased to £5.5m from £1.1m.”
“ Our future aspiration remains to improve the Group’s adjusted operating profit margin towards 6% over the next three years and to continue to increase our dividend payout consistent with the cash generative nature of the business.”