WTM.L Regulatory News (WTM)

6 Dec 2005 12:00

Waterman Group PLC06 December 2005 Waterman Group plc Chairman's Annual General Meeting Statement Speaking at the company's Annual General Meeting, Roger Fidgen, Chairman ofWaterman Group plc, the engineering and environmental consultants, made thefollowing comments regarding current trading: " In the current year, the Group continues to trade strongly, with invoicing inthe first four months of the financial year up by over 10 per cent compared tothe same period last year. All sectors are performing well, new enquiriescontinue at a high level and a number of important new projects have beensecured in the UK and overseas. " The Group's strategy is to build on its existing strengths and expertise inits current markets, whilst developing new areas of business which will deliverlong term growth and profitability in the future. Recent new ventures in Dubaiand China have already delivered better than expected results and the recentdevelopment of new Biofuel technology is seen as an excellent prospect for thefuture. The Group plans further expansion through organic growth, supplementedby selective acquisitions of high quality complementary businesses. " The Group's substantial long term order book has been strengthened during theyear and good progress has been made in all sectors. The urban regenerationsector continues to perform strongly and the Group has secured an increasednumber of new commissions for commercial projects in London. We anticipate thatfurther gains in efficiency will be achieved following the reorganisation of theGroup. " At this stage, it is difficult to anticipate whether the recent rate ofimprovement in margins is sustainable in the longer term. However, havingreturned to higher levels of profitability in the last year and with all sectorscurrently performing well, the Group expects to make further progress in thecurrent financial year." -ends- Date: 6 December 2005For further information contact: Waterman Group plc cityPROFILEBob Campbell, Managing Director Simon CourtenayGraham Hiscocks, Finance Director Andrew Harris020-7928-7888 020-7448-3244web: www.waterman-group.co.uk-------------------------------- This information is provided by RNS The company news service from the London Stock Exchange