HYC Hyder Cons

 

TIDMHYC 
 
RNS Number : 4985G 
Hyder Consulting PLC 
02 February 2010 
 

HYC.L 
 
                              Hyder Consulting PLC 
                      ("Hyder Consulting" or the "Company") 
 
 
                          Interim Management Statement 
 
Hyder Consulting PLC, the multi-national advisory and design consultancy, today 
issues its Interim Management Statement which covers the period from 1 October 
2009 to 2 February 2010. 
 
The Group expects to report full year revenues and operating profit slightly 
ahead of market expectations, after absorbing redundancy and other one off costs 
of approximately GBP3m. 
 
The order book remains strong, the slight reduction since the half year being 
due to the scaling back of our work in Dubai and foreign exchange movements. 
Significant projects won include: 
 
                                    ·      Hunter Expressway Alliance, Australia 
                                    ·      Iluka Road to Woodburn Alliance, 
                                    Australia 
                                    ·      Ashgal SCADA automation, Qatar 
                                    ·      Porthmadog Bypass highway design, UK 
                                    ·      Transport for London transportation 
                                    and urban design framework, UK 
·      South West Water developer services framework, UK 
 
In Asia Pacific, our workload and opportunity pipeline in the transport and 
property sectors are robust. We are working on a number of major infrastructure 
Alliance contracts in Australia and increasing our share of the utilities market 
there. Our landscape architecture and master planning business in China is 
expanding and performing ahead of expectations. Regional operating profits are 
substantially ahead of the previous period benefiting from sharper client focus 
and operational efficiencies. 
 
In the Middle East the Group has a longstanding presence in Abu Dhabi, Qatar, 
Bahrain and Saudi Arabia where we have strong order books and are generating 
further opportunities. In Dubai we have the distinction of being the Engineer 
and Architect of record for the world's tallest building, the 828m Burj Khalifa, 
which was recently opened.  We are working hard to collect outstanding 
receivables in Dubai and our debt and work in progress now amount to only 
GBP9.4m across a range of clients. Operating profits for the region are slightly 
below the prior period. 
 
In Europe our results are improving following the intensive performance measures 
taken in the first half year. In the transport sector we have a strong workload 
and have recently started work on a number of Crossrail projects. The outlook 
for the UK utilities sector is improving although the environment sector and 
German property markets remain challenging. As expected the region's results 
overall are well below the prior period after taking redundancy costs into 
account. 
 
In line with our strategy, we have continued to improve the market alignment, 
differentiation of our services, and operational rigour. Over 70% of revenues 
are earned outside the UK, and our geographical and sector diversification has 
enabled us to achieve robust results. The resilience of our core markets, 
improved key client relationships and strong order book gives us confidence in 
our ability to grow operating profits in the year ahead. 
 
 
For further details: 
 
+------------------------------------------------------------------+--------------------------------------+ 
| Ivor Catto, Chief Executive, Hyder Consulting PLC                | Tel: 020 7316 6000                   | 
+------------------------------------------------------------------+--------------------------------------+ 
| Russell Down, Finance Director, Hyder Consulting PLC             | Tel: 020 7316 6000                   | 
+------------------------------------------------------------------+--------------------------------------+ 
| Shane Dolan, Biddicks                                            | Tel: 020 7448 1000                   | 
+------------------------------------------------------------------+--------------------------------------+ 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 IMSUGUCAPUPUGRG 
 

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