Hyder Consulting PLC Interim Management Statement (0751J)
02 August 2012 - 8:00AM
UK Regulatory
TIDMHYC
RNS Number : 0751J
Hyder Consulting PLC
02 August 2012
Hyder Consulting PLC
Interim Management Statement
Hyder Consulting PLC, the multi-national design and engineering
consultancy, today issues its Interim Management Statement covering
the period to 1 August 2012.
Trading performance
The Group is continuing to perform in line with our
expectations.
Our Australian business has continued to perform well; the
acquisition of GW Engineers is providing new opportunities in the
resources sector and the integration is progressing as planned. In
China, following some contract delays, we have concentrated our
resources further to those areas and sectors where we have an
established competitive advantage.
In the Middle East results are improving as we mobilise on a
number of new projects in Qatar and Saudi Arabia. Working capital
in the region has been reduced since the year end due to improved
payment terms on new public sector projects and progress on delayed
contract settlements.
In Europe results are in line with plan. In the UK rail sector
sales and new opportunities have been particularly strong in the
period. We are working with an increasing number of German clients
internationally, particularly in the Middle East.
Financial position
The Group remains in a strong financial position and has
operated throughout the period with substantial net cash balances,
and significant headroom against its banking facilities.
Outlook
Although market conditions remain challenging, the Group's
favourable market positioning, strong order book, broad
international base and balance sheet strength give us confidence
for the year ahead.
Enquiries:
Hyder Consulting PLC
Russell Down, Group Finance Director Tel: 020 3014 9000
Citigate Dewe Rogerson
Ginny Pulbrook Tel: 020 7282 2945
Notes:
1. About Hyder Consulting: Hyder Consulting is a multi-national
design and engineering 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 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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