AEA Technology



Provides consultancy, technical services and products to three markets: Rail; Environment and Portable Power . AEA operates from 50 locations worldwide, including Harwell, Derby, Thurso, Glasgow in the UK, with offices also in the US, Canada, the Netherlands and Germany.




http://www.aeat.co.uk/

Thank you. I think it is motoring slowly..

ahoj - you are welcome - some good buys coming in as they should :-))

a lot of people just dont seem to realise that the $1.2billion pipeline orders that can take 9/10 months for the tender and evaluation process to be completed are being won all the time - many of these contracts are 4 months + into the process or as seen by yesterdays win even further - this has slipped under many peoples radar imo and this sp is a real bargain!! gl

Released at 16:29!

Trading Statement.

The Board of AEA announces today that PPC, our Washington based business has encountered further delays to orders and contract losses which will reduce revenue in the current year. This will have a significant adverse impact on adjusted Group operating profit for the year ending 31st March 2012.

Performance at ERG, the Boston based business and AEA Europe remain broadly in line with expectations.

Lloyds Bank, the sole banker to the Group, remains supportive.

Still in extended auction.

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No - cruxifiction on Monday I'd guess!

How much revenue comes from there?
What was expected if the best scenario?

well i have reviewed the friday rns - annoying as it is - i think the blow was probably hinted at in the nov 2011 rns copied below - ppc revenue (ppc order intake is in below rns) - i will review that however at least it appears to be only 1 division affected......

Wed, 30th Nov 2011 07:00RNS Number : 0173T

AEA Technology Group PLC

30 November 2011

AEA TECHNOLOGY GROUP PLC

INTERIM RESULTS STATEMENT FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2011

AEA Technology Group plc ('Group'), a leading technical, energy and sustainability consultancy, today announces its financial results for the six months ended 30 September 2011.

· Orders up 84% to £73.0 million (2010: £39.6 million)

· Revenue up 5% £53.3 million (2010: £50.6 million)

· Adjusted operating profit up 10% £2.3 million (2010: £2.1 million) 1

· Operating profit £0.2 million (2010: £6.7 million loss)

· Adjusted profit before tax £1.0 million (2010: £1.1 million) 1

· Loss before tax £2.1 million (2010: £8.8 million loss)

· Net debt £34.3 million (30 September 2010: £31.7 million, 31 March 2011: £28.3 million)

· Secured approval of Lloyds Banking Group to amend financial covenants for 2012 and allow continued access to the banking facility for the foreseeable future. The Directors expect to successfully renegotiate covenants for 2013 during 2012

· John Lowry has been appointed as interim CEO (see separate announcement)

· Order intake is showing positive progress throughout the Group; ERG $38.9 million 2, PPC $45.9 million, up 23% and Europe £20.1 million, up 32%

· In the US we continue to win orders despite the current economic environment while in the UK market conditions remain tough but with some stability returning

· The second half of the year will be impacted by a reduced forecast revenue and adjusted operating profit outturn at PPC, our Washington based operation. As reported previously, performance at ERG, our Boston based operation, and Europe remain in line with Management's expectations

· Having announced on 16 November 2011 that the Group's adjusted operating profit for the current year would be significantly lower than the Board's expectations, the Board is firmly focused on improving profitability and managing cash flow



1 A reconciliation of adjusted operating profit and adjusted profit before tax is given below the Consolidated income statement.

2 No comparative information is available as the business was acquired in November 2010.

Dr Paul Golby CBE, Chairman of AEA Technology Group plc, said:

"After a first half in line with our expectations, it is disappointing that a reduced revenue and adjusted operating profit outturn will impact the second half of the current financial year.

However, I am pleased to report that Lloyds Banking Group have now agreed financial covenants for 2012, giving the Group access to its existing facility for the foreseeable future. The Directors expect to

so perhaps this ppc latest rns really isnt much of a shock after all!?

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lol

next rns news due here mid feb i believe

RNS Number : 5068W

AEA Technology Group PLC

31 January 2012

AEA Technology Group plc

Interest of Non-Executive Director

Share Purchase on behalf of Timothy Michael Robinson

AEA Technology Group plc announces that it was notified on 31 January 2012 that a total of 315,675 Ordinary Shares of one pence each in the Company were purchased on that date on behalf of Timothy Michael Robinson at a price of 0.329 pence per Share.

The purchase follows Mr Robinson's election to receive 100% of his net fees in the form of Ordinary Shares and has been made pursuant to an agreement on terms upon which Shares are purchased on his behalf on a regular basis in accordance with standing instructions.

Following this announcement the above named Director's beneficial interest in the Ordinary Shares of the Company is as follows:


Previous Holding New Holding % of Issued Share
Capital
825,436 1,141,111 0.078%

Another late RNS - Schroders 12% -> 11%

ah well another small step

RNS Number : 5951X

AEA Technology Group PLC

17 February 2012

AEA TECHNOLOGY GROUP PLC ("AEA" or "Group") INTERIM MANAGEMENT STATEMENT The Board of AEA Technology Group plc, today announces its Interim Management Statement for the period 1 October 2011 to date in accordance with the FSA's Disclosure and Transparency Directive ruling under DTR 4.3 As previously announced, second half results for the year ending 31 March 2012 are expected to be adversely impacted by a reduced forecast outturn in PPC, our Washington based subsidiary, due to the late placement of some orders and some expected orders not being won. A new management team is in place and clearly focused on improving our operations and commercial capabilities.

Performances at ERG, our Boston based business, and AEA Europe have remained broadly in line with expectations since the half year. Both ERG and AEA Europe have continued to win new business as expected with further orders won from both UK and US government departments. John Lowry, our Interim Chief Executive Officer appointed on 2 December 2011, has begun a number of actions to improve operational efficiency across the business.

A new Group Executive has been formed comprising the Group Interim Chief Executive Officer and Chief Financial Officer and the chief executive officers and chief financial officers of the Group's operating businesses. With input from advisers and the continuing support of the Group's bank, the Group Executive will complete a new strategy and business plan early in the new financial year which will ensure that the Group leverages its intellectual property, knowledge and skill base to maximum advantage across all Group operations.

The work on the triennial valuation of the pension scheme as at 31 March 2011 remains ongoing.

Lloyds Bank, the sole banker to the Group, remains supportive.

Outlook

Overall, trading for the Group remains in line with expectations set at the time of our last trading update on 20 January 2012.

END

For further information: Dr Paul Golby Chairman 0870 190 8137 John Lowry Interim CEO 0870 190 8137 IR Focus Neville Harris 020 7593 4015

Important Information

Statements contained in this Interim Management Statement are based on the knowledge and information available to the Company's directors at the date it was prepared and therefore the facts stated and views expressed may change after that date. By their nature, the statements concerning the risks and uncertainties facing the Company in this statement involve uncertainty since future events and circumstances can cause results and developments to differ materially from those anticipated. To the extent that this statement contains any statement dealing with any time after the date of its preparation such statement is merely predictive and speculative as it relates to events and circumstances which are yet to occur. The Company undertakes no obligation to update these forward looking statements.

This information is provided by RNS

The company news service from the London Stock Exchange

END

Jumped in here this morning. :-))