WYG to report profits 10% ahead of forecast

Grant Prior 10 years ago
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Consultant WYG is predicting pre-tax profits for the year to March 31 will be 10% ahead of market expectations.

WYG updated the City in a positive trading statement this morning.

The announcement is a continuing sign of the general construction recovery with upgraded results replacing profit warnings during the recession.

WYG is also planning to restart dividend payments for shareholders when it confirms final results in June.

The firm said: “In the UK, the continued economic recovery is stimulating activity across many of our sectors and the outlook for consultancy is encouraging, albeit with some variability regionally and pricing remaining competitive.

“We have focussed our efforts on retaining the major, long term framework agreements that underpin our work and on maximising the opportunities that these provide.”

Chief executive Paul Hamer added: “This has been another positive period for WYG.

“Against the backdrop of an improving trading environment, we have won important new business, improved the scale and profile of our order books, and further strengthened our business through acquisition and other investments for future growth.

“That we are able to confirm our resumption of dividend payments underlines the Board’s confidence in continued progress as we move into the next financial year with a strengthened financial position, a healthy pipeline of opportunities and a continued focus on enhancing profitability.”

 

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