Pre Close Trading Update
July 05 2007 - 3:01AM
UK Regulatory
RNS Number:6951Z
White Young Green PLC
05 July 2007
For Immediate Release 5 July 2007
WHITE YOUNG GREEN PLC
PRE-CLOSE PERIOD TRADING UPDATE
White Young Green Plc (''WYG''), consultant to the built, natural and social
environment, is pleased to provide this pre-close period trading update for the
financial year ending 30 June 2007.
Market conditions in the UK, Ireland and internationally have remained
favourable throughout the year. Accordingly the Group expects profit before tax
and the amortisation of acquired intangibles to be in line with its
expectations, margins to be strengthened, working capital ratios to be improved
and order book to be at record levels when preliminary results for the year to
30 June 2007 are announced on 25 September 2007.
In the year to 30 June 2007 the Group will deliver significant growth in both
revenue and profit through a blend of strong organic growth and four earnings
enhancing acquisitions. Those acquisitions, Trench Farrow, Adams Kara Taylor,
Turner Holden and Malachi Cullen have all integrated well into the WYG business
model and have contributed to Group profitability in the period in line with
expectations. The acquisition pipeline remains strong and further news flow can
be anticipated in the months ahead as the Group steps up its focus on energy,
the environment, transportation, international infrastructure and higher value
management services.
That focus has been further enhanced by the appointment of Lawrie Haynes as
Chief Executive Officer of WYG which took effect on 1 July 2007 in succession to
John Purvis who stepped down from that position at the end of June prior to his
retirement in October 2007. Having operated at either CEO level or Managing
Director level for large, complex multi-skilled organisations in the energy,
communications and transportation sectors Lawrie brings to WYG a wealth of
senior management experience of direct relevance to the successful delivery of
WYG's ambitious corporate development plan for the period to 2010.
WYG continues to benefit both directly and indirectly from investment in the
2012 London Olympic Games and in the period has carried out work on the Weymouth
sailing venue, the transport interchange, training facilities for visiting teams
and the investigation and remediation of the Olympic Park site. This work has
involved all of WYG's primary skill groups working collaboratively to deliver
coordinated town planning, environmental, transportation, engineering and
project management services.
In the international arena the successful diversification of an essentially
socio-economic consultancy into more traditional technical areas of capital
investment has continued with highway infrastructure projects in Georgia, rail
infrastructure projects in Europe, water services projects in Poland and private
sector development projects in Romania and Russia all being secured in the
period. In addition the in-country management teams have been strengthened in
Poland, Romania, Bulgaria and Turkey in order to fully release the wider
potential of WYG International in those locations in the year ahead.
The impact of climate change and the urgent need to better utilise the earth's
scarce energy resources is becoming much more widely understood and appreciated.
The recent launch of WYG Energy, which brings together all of the necessary
research, technological and implementation skills to assist clients to respond
pro-actively, efficiently and effectively to these challenges, has been
successful in opening up a new and growing market to the Group which will be of
increasing significance going forward.
In summary, WYG has enjoyed another successful year of strong growth and looks
forward to further progress in the year ahead.
For further information contact:
WHITE YOUNG GREEN PLC Tel: (0113) 2787111
Lawrie Haynes, Chief Executive Officer
Bob Hartley, Finance Director
BUCHANAN COMMUNICATIONS Tel: (020) 7466 5000
Tim Anderson / Lisa Baderoon / Rebecca Skye Dietrich
This information is provided by RNS
The company news service from the London Stock Exchange
END
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