2 Jan 2018 11:02
2 January 2018
WYG plc
("WYG" or "Company")
Update on cash receipts
WYG, the international programme, project management and technical consultancy, announces the following update to its Half Year Report.
In our Half Year Report, published on 5 December 2017 (RNS Number 3534Y), we referred to the impact on our cashflow of the build-up of working capital in Turkey and stated that: "We expect significant cash receipts from our business in Turkey before the calendar year end".
The Board is pleased to confirm that, as at the opening of business on 2 January 2018, WYG's Turkish subsidiary had received €13.3m of the c. €14.0m due and we remain confident that a significant proportion of the balance will also be paid in due course.
This announcement contains inside information for the purposes of
Article 7 of Regulation (EU) 596/2014.
Contacts:
WYG plc Douglas McCormick, Chief Executive Officer Iain Clarkson, Chief Financial Officer
| Tel: 0113 278 7111 |
MHP Communications Katie Hunt / Ollie Hoare
| Tel: 020 3128 8100 |
N+1 Singer Sandy Fraser / Rachel Hayes / James White
| Tel: 020 7496 3000 |
WH Ireland Limited Tim Feather / Ed Allsopp
| Tel: 020 7220 1666 |
ENDS
NOTES TO EDITOR
About WYG
WYG is a leading programme, project management and technical consultancy employing over 1,600 people and operating from more than 50 locations across the UK, Europe, Africa, Asia and the Middle East. We specialise in creating and managing strategic assets for our clients. We engage with them in the early stages of a project, and often continue to advise them throughout its lifecycle.
Outside the UK, we have a strong, longstanding presence in a number of EU member states and pre-accession countries. We are a leader in international development, exporting our knowledge and networks to undertake ambitious projects that make a positive impact on infrastructure, socio-economic growth and the environment. Our in-house expertise encompasses seven global sectors: defence & justice, energy & waste, environment, mining & metals, social development and infrastructure, transport, and urban development. We also bring together a network of more than 20,000 partners and associates from around the world. This breadth of skills and knowledge allows us to provide a unique integrated approach to solve complex challenges wherever in the world our clients need us.
WYG plc's shares are traded on AIM, a market operated by the London Stock Exchange.