Engineering and project management services outfit AMEC is returning pots of cash to shareholders, emboldened by the strength of its order book and the positive outlook for the markets it serves.
The group bumped up the total dividend for 2012 by 15% to 30.5p and announced a Â£400m share buy-back programme. Revenue for 2011 at Â£3,261m, while up 11% on 2010, was below the Â£3,273m expected by the market.
Adjusted profit before tax was unchanged from a year earlier at Â£259m against market expectations of Â£278m.
More to follow …