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Sat May 25 2024

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Middle East work boosts Hyder Consulting

21 Nov 12 Engineering design firm Hyder Consulting has seen pre-tax profits rise 28% in the first half of its financial year.

Burj Khalifa , designed by Hyder Consulting
Burj Khalifa , designed by Hyder Consulting

For the six months to 30 September, Hyder Consulting’s revenues were up 8% to £150m and profit before tax up 28% to £12m.

Chief Executive Ivor Catto said: “The group has again performed well endorsing the strength of our strategic positioning. We have benefited from the timing of performance related payments in Australia and mobilisation on new contracts in the Middle East, and increased staff numbers by 8% over the year.

“Our diversified geographic and market sector presence, good order book and strong net cash position give us confidence in the full year outcome.”

The company designed the Burj Khalifa in Dubai and, in its earlier incarnation as Freeman Fox & Partners, designed the Humber Bridge and Sydney Harbour Bridge.

Approximately 85% of operating profits and 75% of revenues are generated from international business, predominantly Asia Pacific and Australia.

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