Double-digit growth for WYG
Consulting engineers White Young Green have reported a 16% increase in revenue for the year to the end of June 2006 to reach £167,5 million. Profit before tax was up to 18% to £11.1 million and operating margin on net revenue increased to 10.3%. This was the ninth consecutive year of double-digit organic growth. The year also saw the completion of five strategic acquisitions. WYG’s chairman Peter Wood said, ‘The year has been an important period in WYG’s corporate development. A total of five strategically important acquisitions were secured in the period, with all but one of those transactions being completed in the second half of the year. These acquisitions have added approximately £21 million to gross revenue on an annualised basis and have also significantly broadened and strengthened the range of complementary life-cycle skills now available to clients from the group’s in-house resources.’ Looking ahead, he explains, ‘The strong financial performance has been underpinned by a year of unprecedented success in winning work, with net order book up 23% to £310 million, of which £124 million is already secured for 2007. This is equivalent to 94% of the 2006 net revenue total (205:
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