31 Mar 2016 07:00
31 March 2016
WYG plc
("WYG" or "Company")
Trading Update
WYG plc, the global programme, project management and technical consultancy, announces a trading update for the year ending 31 March 2016.
The Board is pleased to announce that the Group has performed well during the second half of its financial year and accordingly it anticipates announcing full year results in line with market expectations for the year as a whole.
Our UK business continues to deliver a strong trading performance and, importantly for the year ahead, has enjoyed considerable success winning new work from major public and private sector clients. The acquisitions during the year of FMW Consultancy, North Associates and Signet Planning have reinforced our position as one of the top planning consultancies in the UK and are all performing in line with our expectations.
The performance of our International operations continues to underscore the major opportunities available within our areas of operation and expertise. In our MENA Region the order book is now almost €30m, nearly three times what it was at the corresponding time last year. Whilst in our Europe, Africa and Asia Region the recent announcement of a €5.8m project to support the Polish Government's initiative to help the unemployed confirms our view that opportunities within the wider EU market are accelerating. We are also experiencing high levels of success on tenders in Africa, mostly in support of EU-funded programmes and our UK government clients.
With all regions showing order book growth, we anticipate that WYG's total order book at the year end will be in excess of £140m, an all time high for the Group and a 33% increase since the start of the financial year.
This record level of orders provides excellent forward visibility and, having completed our budget process for the financial year ending 31 March 2017, the Board is confident that the Group can deliver the further significant growth forecast for that period.
The Group will provide a more detailed update on trading within the final results for the year ending 31 March 2016 which are expected to be released on 7 June 2016.
Paul Hamer, Chief Executive Officer of WYG, said:
"Our strong organic performance in the UK, augmented by recent acquisitions, and our successful conversion of a healthy pipeline of international opportunities leaves us with a record order book as we enter 2017. This validation of the Group's strong market positions and capabilities across all three of our regions further underpins our expectations of significant growth and our confidence in market forecasts for 2017."
ENDS
Contacts:
WYG plc Paul Hamer, Chief Executive Officer Sean Cummins, Group Finance Director
| Tel: 0113 278 7111 |
MHP Communications John Olsen / Katie Hunt / Ollie Hoare
| Tel: 020 3128 8100 |
N+1 Singer Sandy Fraser / Nick Owen
| Tel: 020 7496 3000 |
WH Ireland Limited Adrian Hadden / Liam Gribben
| Tel: 020 7220 1666 |