WYG celebrates strong profits in 2014

​​DESIGN and engineering consultancy WYG ​reported strong trading in 2014 and said it ​now anticipate​s​ pre-tax profit​s to be 10 per cent higher than current market expectations for the full year to ​March 31.
By The Newsroom
Published 27th Mar 2014, 10:28 BST

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​.

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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 grow​ing​ 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.

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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.

Related topics:TurkeyLeedsPolandAfrica