Interim Management Statement (1694K)
12 Juli 2011 - 8:00AM
UK Regulatory
TIDMHYC
RNS Number : 1694K
Hyder Consulting PLC
12 July 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 period from 1 April 2011 to 11 July 2011.
Trading performance
The Group performed in line with the Board's expectations in the
first quarter.
In Australia, our business is performing in line with plan but,
as expected, less strongly than last year which benefited from
Alliance contract bonuses. In the Middle East we have a number of
significant opportunities in Saudi Arabia and Qatar and have now
started work on the Step tunnel and Muharraq contracts which had
been deferred. As anticipated, we have had a slow start to the year
in the UK as capital spending has been cut back by the
government.
Acquisition
In June we acquired the business and assets of ESR Technology
Ltd ("ESR") from CIP Industries L.P. Incorporated. ESR is a
specialist engineering, safety and risk consultant that operates in
the oil and gas and utilities sectors and employs 94 people in the
UK and Abu Dhabi. The value of the gross assets acquired was
GBP3.7m.
Financial position
The Group remains in a sound financial position with net cash
balances and substantial unutilised banking facilities.
Outlook
Over 75% of operating profit is derived from overseas and, with
our broad international and market sector base, we remain confident
of the outlook for the current financial year.
Enquiries:
Hyder Consulting PLC
Ivor Catto, Chief Executive Tel: 020 3014 9000
Russell Down, Group Finance Director Tel: 020 3014 9000
Citigate
Ginny Pulbrook Tel: 020 7282 2945
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 3,700
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 obtained from
unaudited management accounts.
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 indicated by these forward-looking
statements. Nothing in this announcement should be construed as a
profit forecast.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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