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8 Oct 2008 07:00
8 October 2008
Cyril Sweett Group plc ('Cyril Sweett' or the 'Group')
Pre-close Trading Update
Cyril Sweett, the international construction and property consultancy, is pleased to provide a pre-close trading update for the half year ended 30 September 2008.
Overall trading for the half year is expected to be in line with management's expectations following a period of consistent delivery against the Group's strategic plan. During the period, the Group has been focused on, and has successfully delivered the integration of the four acquisitions made since flotation.
Trading in the UK during the first half has been on plan. Market conditions have softened in the commercial and retail sectors and we have continued to redistribute our resources around the business. Demand for our services from the public sector, particularly in health, transport, prisons, waste and education, has remained strong and a number of major public framework agreements have been secured.
Our international business, which has grown through acquisition and organically, has performed well ahead of last year and we continue to see strong opportunities to grow our business overseas.
During the first half, our PPP and PFI investments have continued to be de-risked and we are close to financial close on two more major PPP projects.
Interim results will be announced on 9 December 2008.
Ends
For further information, call:
|
Cyril Sweett Group plc Dean Webster, Chief Executive Officer |
020 7061 9000 |
|
Mike Kemsley, Chief Financial Officer |
|
|
Caroline Covill, Head of Communications |
020 7061 9102 ; 07968 215057 |
|
Brewin Dolphin Investment Banking Andrew Kitchingman Sean Wyndham-Quin |
0845 270 8613 |
|
Financial Dynamics Jonathon Brill Billy Clegg Georgina Bonham |
020 7831 3113 |
About Cyril Sweett
Cyril Sweett is a leading global construction and property consultancy offering expertise in cost consultancy, project management, building surveying and a comprehensive range of specialist consulting services.
Cyril Sweett floated on the AIM market of the London Stock Exchange in October 2007.
Founded in 1928, the Group has 27 offices throughout the United Kingdom and in Australia, France, India, Ireland, Singapore, Spain and the United Arab Emirates.
Global alliance partners include D G Jones and Partners (Middle East) Limited and Drees & Sommer AG.
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