WYG returns to profit and looks to start hiring again

Grant Prior 12 years ago

Consultant WYG has returned to making an operating profit marking a “very significant milestone in the turnaround of the group” following a turbulent few years.

Former Halcrow director Glen Thorn has also been promoted from managing director of the Buildings & Infrastructure business to run the whole UK region of WYG.

The consultant is also hiring again and has appointed Karen Brookes from the Government Procurement Service as its new HR director.

Results for the six months to September 30 2012 show WYG made an operating profit of £300,000 compared to a loss last time of £2.3m on revenue down to £61.8m from £68.5m.

WYG shut its loss making business in the Republic of Ireland during the period and restructured its transport business in the UK.

Margins improved in the UK “as a result of the better project and commercial disciplines introduced over the past two years and the reshaping of the Group’s asset base” but the operation still made a loss of £7000,000.

The Irish closure led to a fall in staff numbers to 1,282 from 1,325 in March.

Paul Hamer, Chief Executive Officer of WYG, said: “As we guided earlier in the year, I am delighted to confirm that WYG has made an operating profit in the six month period ended 30 September 2012, marking a very significant milestone in the turnaround of the Group.

“Despite continued challenging conditions in the UK, we have secured good quality new business across our key sectors and we are developing a strong pipeline of international opportunities in both the public and private sectors, underpinning the Group’s long term growth prospects.

“Trading in the first half, and since the period end, has been in line with our own expectations and market forecasts for the full year.

“We look forward to making further progress as we realise the benefits of legacy cost savings and focus on creating higher quality revenues through the delivery of our Global Integrated Strategy.”



Latest news

A2Dominion reins in new-build and cuts development team

Housing association to stop private new build sales in big strategy switch
2 days ago

Sellafield partnership appoints final key delivery partners

Altrad and Kaefer bag £180m access, insulation and painting deal
2 days ago

Go-ahead for Milton Keynes’ largest private rental project

Platform_ to build 20-storey scheme of 335 flat next to train station
2 days ago

Health centre canned as build costs double in four years

Devon NHS stands down plans for Health and Wellbeing Centre in Teignmouth
2 days ago

Family confirm death of Des O’Rourke

Deputy chair and co-founder of Laing O'Rourke dies aged 75
3 days ago

Plans approved for major phase of £2.5bn Salford Crescent

Crescent Innovation will help create global research hub
2 days ago

Deal to kick-start 3,000-home Northstowe town centre

Labour Government acts to unlock next phase of new town near Cambridge
3 days ago

Striking new-look for Canary Wharf HSBC tower

Large chunks of upper floorplate to be removed in major overhaul
3 days ago

Kier halves debt to £115m after strong trading year

Order book up 7% to £10.8bn with 85% of work secured for year ahead
3 days ago

Developer blasts “unfair” power charges on huge Liverpool site

Romal Capital unhappy about site power hook-up costs
3 days ago

Regal to start Wembley 1000-bed student scheme

Backer found to deliver £400m twin tower student scheme
3 days ago

Breyer Group bags £163m housing repair deal

Major repair and maintenance win from Kingston Council
3 days ago

VolkerFitzpatrick lands Piccadilly Line upgrade deal

Contractor to work on Cockfosters depot
3 days ago

26 face fight to renew spots on £1bn NEPO civils deal

Next generation framework to start in March 2025
4 days ago

Go-ahead for £170m King’s Cross life sciences office project

Innovative arched design to carry landmark building over railway tunnels
4 days ago

Mitie buys power contractor ESM for £8.5m

Building FM firm strengthens high voltage contracting offer
4 days ago

New vision unveiled for £5bn Liverpool Waters

More housing included in central docks area after Labour £55m funding boost
5 days ago

String of contract wins sees turnover surge 25% at Mace

Construction division sees revenue leap to £1.73bn
4 days ago

Morgan Sindall wins £32m Walsall waste centre

Contract will transform former metal factory site
4 days ago

Kier wins £30m Greenwich teaching block

London South East Colleges plans to spend £47m on Greenwich Campus redevelopment
5 days ago

Blenheim House Construction applies for administration

Surrey contractor employs around 80 staff generating £87m turnover
5 days ago

GMI chief jumps to Henry Boot Construction

Lee Powell will replace Tony Shaw as MD when he leaves at the end of 2024
5 days ago

Avant Homes makes £109m loss

House builder reveals huge loss just days after entering Crest Nicholson bid race
6 days ago

Greggs unveils plans for giant distribution centre

Bakery giant to build 311,551 sq ft logistics centre in Kettering
5 days ago

£330m south east London 1,250 homes scheme approved

Outline planning for New Belvedere development near the Thames
5 days ago

Green light for Birmingham 1,200-bed student scheme

Cambrian Wharf project will rise to 14 and 35 storeys
5 days ago

Welsh fit-out specialist files administration notice

£30m turnover employee-owned Paramount D&B lodges court notice
6 days ago

Skanska signs £105m London Millbank office rebuild

Original 1915 building facade will be dismantled and rebuilt
6 days ago

Historic facade contractor goes into administration

Administrator seeking buyer for Charles Henshaw & Sons
1 week ago

Three-year HS2 station box excavation completed

Enough clay to fill 300 Olympic sized swimming pools removed from Old Oak Common site
6 days ago

Contractor services