Hyder Consulting PLC, the multi-national design and engineering consultancy, has said that UK business has performed with the publication of its Interim Management Statement for the period 1 April to 31 July 2014.
The statement says the Group overall has performed in line with Board expectations.
In Australia the order book increased and bidding activity remains high. As previously reported, delays in contract awards have affected results. In Asia results were in line with plan.
In the Middle East we performed well, our order book remains strong and we have many significant opportunities throughout the region. In Saudi Arabia our business is growing and we have recently secured new utilities contracts worth c£15 million.
Our UK business performed well, particularly in rail, and results were well ahead of the prior year and plan. The SR3C acquisition is integrating well, and performing in line with expectations. In Germany the order book has increased, and losses are reducing.
The statement says:
“The Group remains in a strong financial position with substantial unutilised banking facilities. Our outlook for the current financial year remains unchanged. The Group has an excellent order book, our financial position is strong and we have confidence in our future prospects.”
Yesterday Netherlands-headquartered consultancy Arcadis announced that it has agreed a cash offer to acquire Hyder Consulting in a deal which values the firm at £256.2 million.
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