Record year end order book and net cash: capacity for enhanced returns听听听听听听听
- Underlying profit from operations (PFO) at 拢51 million (2019: 拢221 million), after decision to repay UK Job Retention Scheme
- Strong cash performance with average net cash at 拢527 million (2019: 拢325 million), exceeding previous guidance
- Higher quality order book increased by 15% to 拢16.4 billion (2019: 拢14.3 billion); provides clear medium-term visibility
- Directors鈥� valuation of Investments portfolio stable at 拢1.1 billion (2019: 拢1.1 billion)
- New Group sustainability strategy with ambition to go beyond net zero carbon by 2040
- Re-iterating 2021 PFO outlook for earnings-based businesses to be in line with 2019听听
- Board recommended a final dividend of 1.5 pence, in accordance with new sustainable dividend policy
- Initial share buyback programme increased to 拢150 million in 2021, as part of new capital allocation framework
|
(拢 million unless otherwise specified) |
2020 |
听 |
2019 |
|||
|
Underlying2 |
Total |
听 |
Underlying2 |
听 |
Total |
|
|
Revenue1 |
8,587 |
8,593 |
听 |
8,405 |
听 |
8,411 |
|
Profit from operations |
51 |
63 |
听 |
221 |
听 |
159 |
|
Pre-tax profit |
36 |
48 |
听 |
200 |
听 |
138 |
|
Profit for the year |
25 |
30 |
听 |
186 |
听 |
133 |
|
Basic earnings per share |
3.7p |
4.4p |
听 |
26.7p |
听 |
19.0p |
|
Dividends per share |
听 |
1.5p |
听 |
听 |
听 |
2.1p |
|
听 |
听 |
听 |
听 |
听 |
听 |
听 |
|
听 |
听 |
2020 |
听 |
听 |
听 |
2019 |
|
Order book1,2 |
拢16.4产苍 |
听 |
听 |
听 |
拢14.3产苍 |
|
|
Directors' valuation of Investments portfolio |
拢1.09产苍 |
听 |
听 |
听 |
拢1.07产苍 |
|
|
Net cash 鈥� recourse |
581 |
听 |
听 |
听 |
512 |
|
|
Net cash 鈥� non-recourse3 |
(317) |
听 |
听 |
听 |
听(302) |
|
|
Average net cash 鈥� recourse |
527 |
听 |
听 |
听 |
325 |
|
听
Leo Quinn, 333体育平台官网 Group Chief Executive, said:听鈥淭hroughout the pandemic, we have protected the Group鈥檚 strengths, supported our stakeholders and held firm to our disciplines. That we achieved this while exceeding our own targets for net cash demonstrates 333体育平台官网鈥檚 resilience and the dedication of our people and partners. 听
鈥淥ur leading positions in large growing infrastructure and construction markets, record year end order book and 拢1.1 billion Investments portfolio provide confidence in future cash generation. This underpins our new capital allocation framework which demonstrates 333体育平台官网鈥檚 commitment to deliver enhanced returns to shareholders.鈥�
To read the announcement in full, please click听here.
Notes:
1听Including share of joint ventures and associates
2听Before non-underlying items (Note 9)
3听Non-recourse net borrowings are cash and debt that are ringfenced within certain infrastructure investments project companies
A reconciliation of the Group鈥檚 performance measures to its statutory results is provided in the Measuring our financial performance section
听
Investor and analyst enquiries:
Angus Barry
Tel. +44 (0)7966 281635
[email protected]
Media enquiries:
Antonia Walton
Tel. +44 (0)7966 929633
[email protected]
听All non-media related enquiries should be directed to +44 (0)20 7216 6800 or听[email protected]
Notes to editors
- 333体育平台官网 () is a leading international infrastructure group with 26,000 employees driving the delivery of powerful new solutions, shaping thinking, creating skylines and inspiring a new generation of talent to be the change-makers of tomorrow. 鈥�
- We finance, develop, build, maintain and operate the increasingly complex and critical infrastructure that supports national economies and deliver projects at the heart of local communities.鈥�
- Over the last 111 years we have created iconic buildings and infrastructure all over the world including: the 拢1.5 billion A14 improvement scheme - Britain鈥檚 biggest road project; Hong Kong鈥檚 HK$5.5 billion world-class harbour theatre project for the West Kowloon Cultural District Authority; and the 12.5 mile $429 million North Metro Commuter Rail line in Colorado, US.听
