HYC Hyder Cons

TIDMHYC

RNS Number : 1489B

Hyder Consulting PLC

12 April 2012

Hyder Consulting PLC

Pre Close Statement

Hyder Consulting PLC (the "Group"), the multi-national design and engineering consultancy, provides the following statement in advance of results for the financial year ended 31 March 2012, which are scheduled to be announced on 13 June 2012.

Trading performance

The Group has performed in line with the Board's expectations for the year.

At the year end the order book is expected to be approximately GBP350 million (March 2011: GBP312 million). The most recent contract awards include a large infrastructure consultancy project for Jeddah Municipality in Saudi Arabia, the Oxley Highway to Kempsey section of the Pacific Highway in New South Wales Australia, and an environmental framework for the Office of Government Commerce in the UK.

Our Australian business has performed in line with expectations, benefiting from an increased order book. In Asia results are ahead of the prior year as a result of investments and market repositioning. The growing order book in the Middle East is encouraging and we anticipate improving results over the course of 2012-13. The integration of SAK Engineering Consultants is proceeding well, and providing the Group with new opportunities in Saudi Arabia. In the UK, we have been winning new projects in a very competitive market, though results will, as anticipated, be lower than in 2010-11. In Germany results have improved following the successful integration of Ingenieur Consult.

Acquisition

In March the Group acquired GW Engineers Australia Pty Ltd, a Sydney based engineering consultancy with 50 staff in the important resources sector. Initial consideration of A$3m (c.GBP2m) was paid in cash, with a further A$4m (c.GBP2.6m) payable contingent on future business performance.

Financial position

The Group remains in a strong financial position with net cash balances of approximately GBP15 million at 31 March.

Outlook

Hyder's international order book is growing, the balance sheet is strong and we benefit from a broad geographic and market diversity. The Board is confident of the outlook for the coming year.

Enquiries:

Hyder Consulting PLC

   Russell Down, Group Finance Director                        Tel: 020 7904 9087 

Citigate

Ginny Pulbrook Tel: 020 7282 2945

Notes:

1. About Hyder Consulting: Hyder Consulting is a multi-national design and engineering consultancy operating in Asia, Australia, the Middle East, Germany and the UK. We employ approximately 3,700 people and apply our global expertise coupled with local knowledge to create award winning solutions for the transport, property, utilities and environment sectors.

2. This announcement is based on information obtained from unaudited management accounts and is before any non-recurring items.

3. This announcement contains certain forward-looking statements with respect to the financial condition, results of operations and businesses of Hyder Consulting. These statements involve risk and uncertainty because they relate to events and depend upon circumstances that will occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those indicated by these forward-looking statements. Nothing in this announcement should be construed as a profit forecast.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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