• 28 February 2017

Waterman Delivers Stable Profits and Further Dividend Growth

Waterman Group plc, the engineering and environmental consultancy, today announces its Interim Results for the six months to 31 December 2016.

Please click here to view a pdf of the full interim report for the six months to 31 December 2016

6 months to 31 December 2016 unaudited from continuing operations6 months to 31 December 2015 unauditedIncrease from the comparative period
Revenue£45.7m£45.4m+1%
Earnings before interest, taxes, depreciation, and amortisation (EBITDA)£2.3m£2.2m+5%
Profit before tax£1.8m£1.8mUnchanged
Earnings per share3.6p4.0p-10%
Operating profit margin4.1%4.1%Unchanged
Net funds£6.7m£6.6m+2%
Return on Capital Employed*56.3%44.7%+26%
Interim dividend per share1.6p1.2p+33%

* 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 Interim Results, Nick Taylor, Chief Executive said:

“ Waterman continues to deliver a consistent performance in more challenging markets than experienced in recent years. The UK markets remain at the heart of our business, generating 87% of Group revenue.”

“ The Board’s focus is to continue to increase dividends payable to shareholders consistent with the cash generative nature of our business and I am pleased to report a 33% increase in the interim dividend per share to 1.6p.”

“ The Board remains committed to its aspiration to increase the Group’s adjusted operating profit margin towards 6.0% by June 2019 from the current level of 4.1%.”

-ends-

For further information please contact:

  • Waterman Group plc
    Nick Taylor, Chief Executive
    Alex Steele, Chief Finance Officer
    020 7928 7888

  • Capital Access Group
    Scott Fulton
    Jessica Bradford
    020 3763 3400

  • N+1 Singer
    Sandy Fraser
    020 7496 3176