Clare Burnett

Leeds technical consultancy WYG firm reports steady growth

WYG, the Leeds-based technical consultancy firm, has reported steady revenue increases, from £61.8m in 2012 to £63.9m in the same period this year.

Chairman Mike McTighe said showed a “modest increase” in a difficult climate.

WYG are a global management company, concentrating on preserving global environment, urban development and stabilisation of conflict states.

Involvement in the reconstruction of the Western Balkans

WYG closed the half-year period with unrestricted cash of £12.5m (30 September 2012: £12.7m) and net cash at 30 September 2013 of £15.8m (30 September 2012: £17.1m)

Chairman, Mike McTighe said: “I am pleased to report that we continue to make good progress, with growth in revenue, a strong improvement in profitability, an increase in the order book and positive operating cash flow over a 12 month timeframe.

“Trading since the period end has been in line with our own expectations and previously upgraded market forecasts for the full year.

In the UK, we have secured additional business across our core sectors of Defence and Urban Development including several major projects generated by the MOD’s Base Optimisation programme.

“We are also winning increased levels of planning and enabling work associated with the widely reported increase in activity in the construction and house building sector driven, in part, by the Help to Buy home ownership scheme.

“To build on the momentum achieved thus far, we are looking at a range of opportunities to invest organically and through selective, small acquisitions both in the UK and internationally, made possible by the Group’s improving profit and cash position.

“Based on this improving position, we are confident of delivering full year results in line with recently upwardly revised market expectations, as we have clear momentum in securing new contract wins and are a diversified Group with strong market positions in the geographies and sectors in which we operate.”

Paul Hamer, Chief Executive Officer of WYG, said: “The Group has performed well during the first half of the financial year, building on the stability attained last year to achieve revenue and order book growth as well as a significant improvement in profitability, as our strategy begins to deliver the desired results.

“To build on the momentum achieved thus far, we are looking at a range of opportunities to invest organically and through selective, small acquisitions both in the UK and internationally, made possible by the Group’s improving profit and cash position.

“Based on this improving position, we are confident of delivering full year results in line with recently upwardly revised market expectations, as we have clear momentum in securing new contract wins and are a diversified Group with strong market positions in the geographies and sectors in which we operate.”

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