WYG Plc Trading Update (6097T)

TIDMWYG

RNS Number : 6097T

WYG Plc

31 March 2016

WYG plc

("WYG" or "Company")

Trading Update

WYG plc, the global programme, project management and technical consultancy, announces a trading update for the year ending 31 March 2016.

The Board is pleased to announce that the Group has performed well during the second half of its financial year and accordingly it anticipates announcing full year results in line with market expectations for the year as a whole.

Our UK business continues to deliver a strong trading performance and, importantly for the year ahead, has enjoyed considerable success winning new work from major public and private sector clients. The acquisitions during the year of FMW Consultancy, North Associates and Signet Planning have reinforced our position as one of the top planning consultancies in the UK and are all performing in line with our expectations.

The performance of our International operations continues to underscore the major opportunities available within our areas of operation and expertise. In our MENA Region the order book is now almost EUR30m, nearly three times what it was at the corresponding time last year. Whilst in our Europe, Africa and Asia Region the recent announcement of a EUR5.8m project to support the Polish Government's initiative to help the unemployed confirms our view that opportunities within the wider EU market are accelerating. We are also experiencing high levels of success on tenders in Africa, mostly in support of EU-funded programmes and our UK government clients.

With all regions showing order book growth, we anticipate that WYG's total order book at the year end will be in excess of GBP140m, an all time high for the Group and a 33% increase since the start of the financial year.

This record level of orders provides excellent forward visibility and, having completed our budget process for the financial year ending 31 March 2017, the Board is confident that the Group can deliver the further significant growth forecast for that period.

The Group will provide a more detailed update on trading within the final results for the year ending 31 March 2016 which are expected to be released on 7 June 2016.

Paul Hamer, Chief Executive Officer of WYG, said:

"Our strong organic performance in the UK, augmented by recent acquisitions, and our successful conversion of a healthy pipeline of international opportunities leaves us with a record order book as we enter 2017. This validation of the Group's strong market positions and capabilities across all three of our regions further underpins our expectations of significant growth and our confidence in market forecasts for 2017."

ENDS

Contacts:

 
 WYG plc                                  Tel: 0113 278 
  Paul Hamer, Chief Executive Officer      7111 
  Sean Cummins, Group Finance Director 
 MHP Communications                       Tel: 020 3128 
  John Olsen / Katie Hunt / Ollie Hoare    8100 
 N+1 Singer                               Tel: 020 7496 
  Sandy Fraser / Nick Owen                 3000 
 WH Ireland Limited                       Tel: 020 7220 
  Adrian Hadden / Liam Gribben             1666

This information is provided by RNS

The company news service from the London Stock Exchange

END

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March 31, 2016 02:00 ET (06:00 GMT)

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