5 Dec 2014 07:00
Waterman Group plc
Annual General Meeting Statement
Waterman Group plc, the international engineering and environmental consultant, will be holding its Annual General Meeting today. Its Chairman, Roger Fidgen, will make the following statement, in addition to the recent Interim Management Statement dated 12th November 2014:
"Over recent months, excellent progress has been made on several projects where Waterman is providing engineering and environmental support to clients during the early phase of the development design. It is with great pleasure that I can update you on the following commissions and prospects:
· Waterman has been appointed to develop and implement a sustainable energy strategy for the British Museum in London.
· We are pleased that the 800,000 ft2 retail development at Westgate Oxford designed by Waterman was granted Reserved Matters approval by Oxford City Council last week. Waterman has been involved with this project for over ten years and several contractors are currently tendering the construction contract.
· As part of the framework won by Waterman at Manchester Airport city complex, we have been appointed to commence design of a 100,000 ft2 logistics centre and a generic sustainable office building as part of the overall masterplan for this £800m development.
· In Ireland, construction is planned to commence in January on Central Park residential development for Kennedy Wilson which is a nine storey building containing 165 apartments.
· Waterman Aspen, our specialist secondment business, has continued to expand with resources increasing by 19% over the last five months to 370 employees. The recent announcement by the UK Government of the £15bn investment in highways infrastructure is anticipated to increase the future demand for our services.
· Waterman has recently been commissioned to prepare detailed designs for the 3.2 acre mixed use development at Barts Square in London for Helical Bar plc.
" We have experienced continued growth in our markets during the first five months of the current financial year. The Board believes that Waterman remains on target to triple the Group's adjusted annual profit before tax to £3.3m over the three years to June 2016. We look forward to announcing further progress when our half year results are issued in February 2015."
" I would like to take this opportunity to thank all our staff and shareholders for their continued support and valued contribution during the last financial year. We are continuing to recruit and I welcome all the engineers and environmental consultants who have joined Waterman over the last five months since the commencement of our current financial year, during which period we have increased our technical headcount by 9%."
-ends-
Date: 5 December 2014
For further information please contact:
Waterman Group plc Broker Profile N+1 Singer
Nick Taylor, Chief Executive Simon Courtenay Sandy Fraser
Alex Steele, Chief Financial Officer 020-7448-3244 020-7496-3178
020-7928-7888
Web: www.watermangroup.com