WYG Regulatory News (WYG)

17 September 2012

WYG plc

Trading Update

WYG plc ("WYG" or "Company"), the global management and technical consultancy to the built and natural environment, today provides an update on trading for the six months ending 30 September 2012 in advance of its half year results statement on 29 November 2012.

The Board is pleased to announce that trading during the first half of the financial year has continued in line with management expectations and that we expect to report a small operating profit (before separately disclosed items, as defined in the Company's last financial statements) in the first six months of the current year.  

Further to the announcement on 30 August 2012 concerning WYG's operations in the Republic of Ireland, we have been informed by the provisional liquidators that they will very shortly be seeking court approval of their formal appointment as liquidators and that, conditional upon their appointment, they have agreed to sell to WYG all three of WYG Ireland Limited's subsidiaries in Northern Ireland, securing the jobs of c.90 employees in Belfast.

Paul Hamer, Chief Executive Officer of WYG plc, said:

"Having stated, on 7 June, that we were confident of returning the Group to operating profit in the near term, we are delighted to announce that this milestone in the Group's turnaround will be reached in the first half of the current year."

"Now that we have achieved this significant target, we are well placed to progress with our shift in focus from internal improvements to creating higher quality revenues through the delivery of our Global Integrated Strategy and look forward to updating the market on our progress in November."

ENDS