HYC Hyder Cons

 

TIDMHYC 
 
RNS Number : 8930Z 
Hyder Consulting PLC 
30 September 2009 
 
HYC?.L 
Hyder Consulting PLC (the 'Group' or 'Hyder') 
Pre-close Statement 
 
 
Hyder Consulting PLC, the international advisory and design consultancy, today 
provides a pre-close trading update in advance of its interim results for the 
six months ended 30 September 2009, which will be announced on the 23 November 
2009. 
 
 
Our overseas businesses have performed strongly and our client-centred strategy 
and leaner structure will enable the Group to report first half revenues and 
operating profit towards the top end of market expectations. 
 
 
Asia Pacific operations have benefited from strong sales performance in the 
transportation and property sectors and from significantly improved operational 
efficiency. Operating profits are substantially ahead of the previous period. 
 
 
In the Middle East our businesses are performing well, broadly in line with the 
same period last year, and we are seeing an increasing flow of opportunities 
across the region. As anticipated outstanding debt has reduced in Dubai, though 
the level of working capital in the region has been affected by the timing of 
Ramadan and public holidays. 
 
 
Results in Europe have been more variable. Our businesses in the transport 
sector have performed strongly, winning important orders, notably those on 
Crossrail. Market conditions in the property and environment sectors have been 
more difficult, and in the second quarter our UK water sector business suffered 
from a temporary slowdown in workload between AMP cycles. Overall, the 
region's results are well below the prior year when taking redundancy costs into 
account although we anticipate an improvement with increasing new client and 
project opportunities. 
 
 
We have improved the operating rigour and market alignment of our operations 
across the Group in the first half of the year. This has resulted in further 
staff reductions, with resultant one-off costs of c.GBP1.5m being absorbed 
within the normal reported operating profit. 
 
 
The Group's geographical spread has enabled us to maintain a strong order book 
and to achieve a robust first half performance. The resilience of our 
core markets gives us confidence in the outlook for the financial year. 
 
 
 
 
Contact: 
 
 
Ivor Catto, Chief Executive             Tel: +44 (0)20 7904 9011 
Russell Down, Finance Director      Tel: +44 (0)20 7904 9020 
Shane Dolan, Biddicks            Tel: +44 (0)20 7448 1000 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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