HYC Hyder Cons

TIDMHYC

RNS Number : 8102A

Hyder Consulting PLC

08 February 2011

Hyder Consulting PLC

Interim Management Statement

Hyder Consulting PLC, the multi-national advisory and design consultancy today issues its Interim Management Statement covering the Group's performance since 16 November 2010.

Trading performance

The Group has continued to perform well and is trading in line with the Board's expectations.

Our Australian business has performed in line with plan, and has suffered minimal disruption from the flooding in Queensland. The Middle East remains challenging, and progress on contract starts are still somewhat protracted. In the UK, following the operational changes we made in the first half, margins have improved and results are above plan in the second half.

New Orders

During the period under review, the Group won a number of important projects throughout our geographic markets, although the order book reduced slightly. In Istanbul, Turkey we have been appointed designers of what will be one of the tallest buildings in Europe. We were appointed Independent Verifier for the Seaford Rail extension in South Australia, and for the Kempsey bridges project in Queensland. In Abu Dhabi we are providing design and construction supervision services for the rehabilitation of a number of main pumping stations; and have been appointed designers of 22km of the new N Road highway in Bahrain, both Kent - Sussex, and Wessex rail platform extensions in the UK, and the Magdeburg train depot in Germany.

Financial position

Cash conversion has been good and net cash balances increased during the period, despite delayed contract settlements in the Middle East.

Chief Executive Ivor Catto commented:

"We have performed well in mixed markets. Our broad geographic spread, with over 70% of our revenues and approximately 80% of operating profits coming from overseas, together with our strong balance sheet, positions us well for the opportunities ahead."

Enquiries:

 
 Hyder Consulting PLC                    Tel: 020 3014 9000 
  Ivor Catto, Chief Executive             Tel: 020 3014 9000 
  Russell Down, Group Finance Director 
 Citigate                                Tel: 020 7282 2945 
  Ginny Pulbrook 
 

Notes:

1. About Hyder Consulting : Hyder Consulting is a multi-national advisory and design consultancy operating in Asia, Australia, the Middle East, Germany and the UK. We employ approximately 4,000 people and apply our global expertise coupled with local knowledge to create award winning solutions for the transport, property, utilities and environment sectors.

2. This announcement is based on information sourced from unaudited management accounts. Adjusted profit before tax excludes the amortisation of intangible assets arising on business combinations.

3. This announcement contains certain forward-looking statements with respect to the financial condition, results of operations and businesses of Hyder Consulting PLC. These statements involve risk and uncertainty because they relate to events and depend upon circumstances that will occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements. Nothing in this announcement should be construed as a profit forecast.

4. The next trading statement is expected to be the Group's pre-close statement for the year ending 31 March 2011.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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