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UK revival lifts WYG

3 Jun 14 Technical services consultant WYG is in better shape today than it has been for years, it chief executive has said.

Paul Hamer
Paul Hamer

WYG has reported a £1.8m pre-tax profit for the year to 31 March 2014, turning around the previous year’s £3.3m loss.  Revenue was stable at £126.9m (2013: £125.7m).

There was particular momentum in the second half of the year, which saw  adjusted pre-tax profits reach £2.8m, double the first half’s £1.4m.

As at 31 March 2014, WYG’s order book stood at £86.8m (2013: £77.6m), which is made up of UK orders of £45.0m (2013: £29.3m) and international orders of £41.8m (2013: £48.3m).

Chief executive Paul Hamer said: “In the UK, the government's investment in major infrastructure projects is creating buoyancy in the market which is spreading into the private sector.  In particular, its support for the house building sector is having a positive effect on our core, front-end disciplines of planning and commercial development.”

The UK region generated revenue of £72.9m last year (2013: £74.9m) with an operating profit before separately disclosed items of £1.9m (2013: loss of £0.2m). 

Mr Hamer said: "We have made considerable progress during the year, with our focus on generating quality revenues delivering a strong increase in profits and a substantial uplift in our order book.

"WYG is now in better shape than it has been for several years, with a highly differentiated consultancy offering, a financial structure which fully supports its potential, and clear momentum in its order book.”

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