Hyder plans to recruit more staff

Aaron Morby 11 years ago
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Consultant Hyder plans to recruit more staff in the second half of the year as orders and workloads recover.

Reporting revenues up 8% to £150m in the first half on pre-tax profits up a third at £11m, Hyder said a good order book and strong net cash position give it confidence for the rest of the year.

Hyder said its headcount rose to 3,936 over 2012, with further recruiting planned ahead.

Ivor Catto, chief executive, said: “The group has again performed well endorsing the strength of our strategic positioning.

“We have benefited from the timing of performance related payments in Australia and mobilisation on new contracts in the Middle East, and increased staff numbers by 8% over the year.

Hyder’s rail business performed ahead of plan with a strong workload from London Bridge Station and major projects with Network Rail and Transport for London.

But it warned in the highways sector, work through the Highways Agency’s managed motorways hub programme, had been slower to come to fruition than anticipated.

Hyder said utilities sector results were affected by some project delays while the property sector remains subdued in the present challenging market conditions.

    Regional review

    Asia Pacific
    Revenue increased by 19% to £66.9m, and operating profits were £9.0m (2011: £6.9m).

    Middle East
    Revenues increased by 15% to £36.4m, and operating profits by 145% to £2.7m, in line with plan.

    Europe
    Revenues were £46.7m (2011: £51.6m) and operating profits £1.9m (2011: £2.9m).

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