The market leading energy and climate change consultancy, published its Interim Management Statement for the period from 1 October 2009 to 16 February 2010.
Trading continues to be in line with the Board’s expectations with the positive cash performance supported by an improvement in the US as a result of actions taken to reduce working capital. Year-end net debt levels are expected to be slightly better than market expectations.
AEA continues to bid on a good pipeline of opportunities in the US and this is expected to convert into strong growth during 2011/12.
In Europe the business is now on a significant number of UK Government Framework contracts although management commented that the continuing uncertainty around the UK Government’s finances makes it less clear than in previous years when these wins will convert into revenue.
Consensus forecasts are for eps of 2.2p for the current year ending 31st March 2010 and 2.14p for 2011.
