WYG looks for acquisitions as market picks-up

Grant Prior 10 years ago
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Consultant WYG is on the acquisition trail as profits continued to pick up at the firm.

Half year results to September 30 show operating profit up to £1.7m from £100,000 last time as turnover ticked-up to £63.9m from £61.8m.

Paul Hamer, Chief Executive Officer of WYG, said: “The Group has performed well during the first half of the financial year, building on the stability attained last year to achieve revenue and order book growth as well as a significant improvement in profitability, as our strategy begins to deliver the desired results.

“To build on the momentum achieved thus far, we are looking at a range of opportunities to invest organically and through selective, small acquisitions both in the UK and internationally, made possible by the Group’s improving profit and cash position.”

The period saw the UK business return to profit making an operating profit of £300,000 on a turnover of £35.4m compared to a loss of £800,000 and a revenue of £37.6m last time.

 

 

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