Energy and climate change consultancy AEA Technology has won a five-year US Government framework contract worth $60m (£39m), providing an early return on the acquisition of Project Performance Corporation. And AEA chief executive Andrew McCree is confident that Barack Obama's win in the US election will create further opportunities for the group.
Meanwhile, orders across the group grew strongly, rising by 48 per cent year-on-year to £34.3m. Private sector orders grew particularly strongly, up 139 per cent, reflecting the launch of Ecopath and Fuelpath, which enable private sector businesses to reduce energy costs and carbon dioxide emissions. UK government sector work remained slow, however, and reductions of over 50 per cent in several major programmes hit revenue.
Prior to these results, analysts were forecasting pre-tax profit of £11.5m and EPS of 4.5p for the year to 31 March 2009.
| AEA TECHNOLOGY (AAT) | ||||
|---|---|---|---|---|
| ORD PRICE: | 23p | MARKET VALUE: | £52.6m | |
| TOUCH: | 22-24p | 12-MONTH HIGH: | 94p | LOW: 22p |
| DIVIDEND YIELD: | NIL | PE RATIO: | 3 | |
| NET ASSET VALUE: | * | NET DEBT: | £25.6m | |
| Half-year to 30 Sep | Turnover (£m) | Pre-tax profit (£m) | Earnings per share (p) | Dividend per share (p) |
|---|---|---|---|---|
| 2007 | 35.3 | 2.8 | 1.90 | nil |
| 2008 | 35.6 | 2.9 | 1.70 | nil |
| % change | +1 | +4 | -11 | - |
*Negative shareholders' funds | ||||
