DESIGN and engineering consultancy WYG reported strong trading in 2014 and said it now anticipates pre-tax profits to be 10 per cent higher than current market expectations for the full year to March 31.
The Leeds-based group said the economic recovery in the UK is stimulating activity across many sectors and the outlook for consultancy is encouraging.
In addition, new opportunities are emerging in overseas markets.
However the delay in agreeing the next seven year EU budget has had a knock-on effect on the pipeline for new work in Poland and Turkey.
It said work with Government departments such as the MOD is growing and it is strongly positioned to secure new contracts across the DFID’s Fragile and Conflict Affected States framework, with a particular focus on Africa.
WYG said it has been successful in re-tendering all four of the major UK frameworks that were re-let last year and it is confident it will secure further major
frameworks in the near term.
The group has signed a new £15m trade finance facility with Santander and will use the cash to support activities in Central Europe and Turkey and to re-enter other markets.
Earlier this month WYG completed the acquisition of Delta Partnership Solutions. WYG described Delta as an established business with a small but experienced team of permanent consultants and a large network of associates dedicated to improving the lives of people living in poverty.