Waterman Group PLC AGM Statement (3750R)
December 09 2016 - 2:00AM
UK Regulatory
TIDMWTM
RNS Number : 3750R
Waterman Group PLC
09 December 2016
Waterman Group plc
Annual General Meeting Statement and Trading Update
Waterman Group plc ("Waterman" or "the Group"), the engineering
and environmental consultancy, will be holding its Annual General
Meeting at 10.30am today. Its Chairman, Michael Baker, will make
the following statement:
"During the first four months of the current financial year to
31(st) October 2016, the Group's overall performance was in line
with the Board's expectations, with revenue slightly above the
prior year period, in part due to beneficial exchange rates. Cash
collection has remained strong, supporting the Board's aspiration
to maintain a progressive dividend policy increasing the level of
dividends payable to shareholders over time.
Over recent months, excellent progress has been made on several
projects where Waterman is providing engineering and environmental
support to clients during the early phase of development
design.
Additionally, It is with great pleasure that I can update you on
the following commissions and prospects:
-- In November 2016, we announced that Waterman has been
appointed to the Ministry of Defence's Army Basing Programme
delivered by Aspire Defence to complete, by 2020, 130 new buildings
and over 2,600 additional bed spaces for single soldiers at new and
enhanced garrison facilities at Bulford, Tidworth, Perham Down and
Larkhill across Salisbury Plain and at Aldershot. The value of the
construction programme is anticipated to be approximately GBP680
million and Waterman is involved in over 50% of the works.
-- We have been instructed to progress scheme and tender
information for the planned 90,000m(2) extension to the Brent Cross
shopping centre in London for Hammerson and Standard Life. This
exciting new development continues our involvement in large retail
projects throughout the UK where we have recently been the
designers for the 40,000m(2) Victoria Gate Centre, Leeds for
Hammerson which opened in October 2016 and the 80,000m(2) Westgate
Centre, Oxford for Land Securities and The Crown Estate which will
open in Autumn next year.
-- We are pleased to announce that as part of the Priority
Schools Building Programme, PSBP2, Waterman has been appointed by
Turner & Townsend to provide technical advice for the
feasibility studies of each school. Under PSBP2 the Government is
aiming to improve and refurbish 278 schools by 2021. Waterman's
involvement will be nationwide and cover approximately one quarter
of the schools.
-- Waterman Aspen, our specialist Highways and Transportation
outsourcing business, has welcomed the recent Autumn statement by
the UK Government confirming its commitment to invest over GBP1.3bn
to ease congestion on the country's roads. Of particular note is
that included within this investment is GBP1.1bn for the upgrade of
local roads. Waterman currently provides engineers on secondment to
over fifty County, City and Borough Councils throughout the UK as
well as Highways England and Transport for Scotland."
"I would like to take this opportunity to thank all our staff
and shareholders for their continued support and valued
contribution during the last financial year."
"The Board looks forward to announcing its half year results in
February 2017."
-ends-
Date: 9 December 2016
For further information please contact:
Waterman Group plc N+1 Singer Capital Access Group
Nick Taylor, Chief Executive Sandy Fraser Scott Fulton
Alex Steele, Chief Financial Officer Jessica Bradford
020-7928-7888 020-7496-3176 020-3763-3400
Web: www.watermangroup.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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