Earnings flat but profits up at WYG

3rd Dec 2015 09:22

(ShareCast News) - WYG managed a positive start to the 2015 financial year, improving its profitibility off flat earnings.Revenues for the first half were relatively flat for the AIM-listed technical consultancy at £62.6m, down from £63.2m in the same period last year.Adjusted profit before tax was up 13% to £2.2m, however, with adjusted earnings per share up from 2.9p last year to 3.3p this period."Building on the strong first half performance in the UK, we are seeing an increasing flow of work from major public and private sector clients, underpinned by continuing economic growth and infrastructure spending which are the main drivers of our core front-end planning and consultancy business", said chief executive officer Paul Hamer."With an exceptionally high proportion of our current year revenue expectations already in our order book, together with the strong momentum in our international business and the steps taken over recent years to increase group profitability, we are well-placed to deliver on market expectations for the full year."WYG announced an interim dividend of 0.5p per ordinary share, a 67% increase on 0.3p in 2014's first half.