Interim results posted today show the  firm made an operating loss of £2.5m compared to £300,000 last time while revenue was £68.5m down from £83.7m.

WYG finalised a financial restructuring during the period and is now looking to recruit new staff after shedding more than 50% of its employees during the last two years.

The consultant said: “We have introduced new incentive arrangements to retain and recruit key staff.

“We are also recruiting new employees to key positions to address market opportunities both in the UK, particularly in London and the South East, and overseas to strengthen ourglobal footprint.

“We continue to see an increase in the quality and number of applications for new positions.”

Former Scott Wilson Finance Director Sean Cummins has been appointed to the same role at WYG following the departure of  David Wilton who oversaw the financial restructuring.

WYG said the UK market is “challenging” but work is expected to pick-up in the defence and infrastructure sectors.

Paul Hamer, Chief Executive Officer, said: “WYG has taken a major step forward during the six month period and is positioned to build on the solid platform put in place through the successful refinancing completed in July.

“We have completed an operational reorganisation to refocus our resources on attractive sectors and geographies and can now concentrate on growth.

“Whilst trading conditions in the UK remain very challenging except in selected areas of activity, we welcome the Government’s commitment to additional infrastructure investment in its Autumn Statement which we expect to bring forward some potential opportunities for us”