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Tue March 02 2021

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Hyder grows staff numbers 12%

11 Jun 14 Consulting engineer Hyder saw its UK revenues grow 17% to £88m for the year to 31 March 2014 and its profits double to £6.8m.

Hyder has been working on the redevelopment of Manchester's Victoria station
Hyder has been working on the redevelopment of Manchester's Victoria station

Globally, Hyder saw its revenues stable at £296.8m (2013: £298.1m) but pre-tax profit plummeted 68% to £5.4m (2013: £16.6m).

On the plus side, the order book was up 7% at year-end to £440m.

In the UK, staff numbers grew 12% during the year from 1,203 to 1,352 although the order book at the end of the year was down from £110.3m to £105.3m.

Transport is the lead driver for Hyder’s UK operations. Its rail business is working on London Bridge, Manchester Victoria and Bank stations, as well as capacity enhancement works, electrification and signalling projects for Network Rail and Transport for London. In the highways sector workload has increased with the Highways Agency under framework agreements and specialist staff are also supporting major projects in the Middle East.

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Employee numbers were also up 12% worldwide – to approximately 4,500.  Most of these work in design centres in India and the Philippines.

Hyder in Germany had a tough year, however, making losses amid challenging market conditions and contract variations. A number of offices have been closed, including the design centre in Bulgaria.

Chairman Sir Alan Thomas said: "Although group results for the year are below our original expectations, trading in the UK and the Middle East continues to be strong.  This highlights the value of our technical skill base and a regionally balanced business.

“The flexibility enabled by our design excellence centres allows us to concentrate resources on growing markets. We have a solid pipeline, record order book and are confident we will continue to capture a sizeable share of our target markets."

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