27 Mar 2012 07:00
27 March 2012
WYG plc
("WYG" or "Company")
Trading Update
WYG plc, the global management and technical consultancy to the built and natural environment, announces a trading update for the year ending 31 March 2012.
As we reported on 2 December 2011, trading conditions in the UK and Ireland remain challenging except in some selected areas of activity. However, as expected, donor-funded work in our key overseas markets has provided some growth in international revenue. Overall, therefore, Group revenue in the second half should be similar to the first half.
We continue to manage our cost base pro-actively to maximise performance and have successfully reduced legacy costs ahead of the commitments we made to shareholders at the time of the capital restructuring. Consequently, the Directors of WYG expect that the Company's second half reported operating loss (before exceptional items, amortisation of acquired intangibles and share option costs) will show a significant improvement from the first half and will be in line with market expectations.
The Company will release its preliminary results for the year ending 31 March 2012 on 7 June 2012 at which time it will provide a further update on trading.
ENDS
WYG plc Tel: 0113 278 7111
Paul Hamer, Chief Executive Officer
Sean Cummins, Group Finance Director
MHP Communications Tel: 020 3128 8100
John Olsen
Katie Hunt
Numis Securities Limited Tel: 020 7260 1000
Stuart Skinner and Jamie Lillywhite (Nominated Adviser)
David Poutney and Ben Stoop (Corporate Broker)
Notes to Editors
WYG is an established global management and technical consultancy to the built and natural environment that collaborates with clients in over 40 countries to help them realise their corporate and project ambitions.
WYG has the expertise for every stage of a project's life-cycle from planning and design to building and completion.
WYG is a top 15 European consultancy and employs more than 1,400 people around the world.
WYG takes enormous pride in the work it does and has been recognised with several prestigious industry awards including: British Expertise International Awards 2011; RoSPA Occupational Health and Safety Gold Medal Award 2011, National Recycling Awards 2011.
For more information, please visit: http://www.wyg.com/.