WYG sees new opportunities in overseas markets as profits shoot up 10 per cent

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DESIGN and engineering consultancy WYG ​reported strong trading in 2014 and said it ​expects​ pre-tax profit​s to be 10 per cent higher than current market expectations for the full year to ​March 31.

The Leeds-based group said the economic recovery​ in the UK is stimulating activity across many sectors and the outlook for consultancy is encouraging​.

In addition, new opportunities ​are emerging ​in overseas markets​.

However the delay in agreeing the next seven year EU budget has had a knock-on effect on the pipeline ​for​ new work ​in​ Poland and Turkey.

It said work with Government departments ​such as the Ministry of Defence is grow​ing​ and ​it is strongly positioned to secure new contracts across ​the ​​​​Department for International Development​‘s​ Fragile and Conflict Affected States framework, with a particular focus on Africa.

WYG said it has been successful in re-tendering all four of the major UK frameworks that were re-let last year. and it is confident it will secure further major frameworks in the near term.

Paul Hamer, chief executive of WYG, said: “This has been another positive period for WYG. Against the backdrop of an improving trading environment, we have won important new business, improved the scale and profile of our order books, and further strengthened our business through acquisition.”

John Foley of PTSG

PTSG’s results are set to be in line with board’s expectations