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AMEC plc Ordinary 50p Shares (AMEC)

Sell : 1,109.00p | Buy : 1,110.00p | up 39.00p
Market closed

Company overview

The Group's principal activity is providing consultancy, engineering and project management services to the energy, power and process industries. It designs, delivers and maintains strategic and complex assets for its customers. The Group operates through four businesses. Natural Resources, Power and Process, Earth and Environmental and Investments. AMEC employs around 20,000 people and operates in more than 30 countries.

HL Comment (25 August 2011)

The group's half year results (25August2011) proved to be broadly in line with analysts’ forecasts. Total group revenue rose by 4pc to £1.48 billion, while adjusted earnings rose by 9pc to £122m. The order was expanded over the half year, but declined marginally on a full year basis - £3.4 billion (December 2010: £3.1 billion; June 2010: £3.5 billion). The results were driven by a strong performance in mining and power & process, whilst increased activity in the UK North Sea more than offset the anticipated reduction in activity levels within its oil sands business. The company also completed four acquisitions in the period, including the May purchase of US company MACTEC for $280m – management noted that the integration was progressing well. Accompanying management comments noted that ‘demand for its services and investment in its end markets remained strong, with the board now expecting contract awards to support future growth despite increased economic uncertainty.’

Negative Points

  • Profit margins are expected to be maintained at about 9pc in 2011, not improved.
  • The order book has declined on a year-over-year basis.
  • Costs in relations to the ceasing of operations on Libya impacted during the period.
  • The group remains exposed to the health of the global economy. A drop in energy prices could see customers cancelling investment projects.
  • Currency movements continue to pose risks.

Positive Points

  • The order book increased over the half year. Management noted that ‘order intake and forward visibility remained good’.
  • The half year dividend was increased by 40pc to 10.2 pence.
  • The group highlighted a 'strong balance sheet'.
  • Further acquisitions remain a possibility.

Consensus

On balance, market consensus indicates a buy.

All yield figures are variable and not guaranteed.

What the Brokers Say

  • Heatbar summary of What the Brokers Say
    Strong
    Sell
    Strong
    Buy
  • Strong Buy: 9
    Buy: 4
    Neutral: 1
    Sell: 0
    Strong Sell: 2
    Total: 16

This is not a recommendation, it represents the consensus view of a basket of brokers. If less than 5 brokers it may not be a valid consensus. HL might not concur and takes no responsibility.

View Report & Accounts

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Important dates

Future events

Final Results 21-02-2012

Past events

Trading Announcement 9-01-2012
Interim Dividend Payment Date 3-01-2012
Interim Ex-Dividend Date 30-11-2011
Interim Management Statement 17-11-2011
Interim Results 25-08-2011
Final Dividend Payment Date 1-07-2011
Final Ex-Dividend Date 25-05-2011
Interim Management Statement 5-05-2011
AGM 5-05-2011
Annual Report 30-03-2011
Final Results 3-03-2011
Interim Dividend Payment Date 4-01-2011
Interim Ex-Dividend Date 24-11-2010
Interim Management Statement 11-11-2010
Interim Results 26-08-2010
Final Dividend Payment Date 1-07-2010
Final Ex-Dividend Date 26-05-2010
AGM 13-05-2010
Interim Management Statement 13-05-2010
Annual Report 31-03-2010
Final Results 4-03-2010
Interim Dividend Payment Date 4-01-2010
Interim Ex-Dividend Date 25-11-2009
Final Dividend Payment Date 1-07-2009
Final Ex-Dividend Date 20-05-2009
AGM 13-05-2009
Final Results 12-03-2009
Trading Announcement 14-01-2009
Interim Dividend Payment Date 2-01-2009
Interim Ex-Dividend Date 26-11-2008
Trading Announcement 12-11-2008
Interim Results 28-08-2008
Trading Announcement 3-07-2008
Final Dividend Payment Date 1-07-2008
Final Ex-Dividend Date 21-05-2008
AGM 14-05-2008
Final Results 11-03-2008
Interim Dividend Payment Date 2-01-2008


Fundamental Data

Values are quoted in the stock's local currency: British pound.

Year Ending Revenue
(m)
Profit Before Tax
(m)
EPS
(p)
P/E Ratio PEG EPS Growth
(%)
Total Dividend Dividend Yield
31-12-2010 2,950.60 258.20 73.00 18.00 0.50 34.00 26.50 2.30
31-12-2009 2,539.10 203.50 47.60 16.60 2.80 6.00 17.70 2.20
31-12-2008 2,606.40 306.60 64.50 10.90 0.50 22.00 15.40 3.10
31-12-2007 2,356.20 151.60 36.90 22.70 0.20 116.00 13.40 1.60
31-12-2006 2,121.60 (27.00) (13.30) 24.60 n/a n/a 12.20 2.90

Latest AMEC Director Deals

Traded Action Notifier Position Price Amount Value
9-01-2012 Buy Dividends John Connolly Chairman 935.83p 190.00 £1,778.08

Any Overview and Comment is provided by Hargreaves Lansdown. What the Brokers Say, Important Dates and Financials are supplied by Digital Look Ltd. Prices delayed by at least 15 minutes.



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