News

Waterman Group lifts dividend as profits soar

06 October 2008 07:27:00

Engineering and environmental consultancy Waterman Group raised its dividend as pre-tax profits and revenues came in ahead of market expectations.

Adjusted profit before tax in the year to June 30 climbed to £7.4m from £5.2m as revenue from continuing operations rose to £136.4m from £103.9m.

The group will now pay a total full year dividend of 6.3p, compared with 5.8p a year ago.

The group's environmental companies benefited from an expansion in the environmental and sustainability sectors. Its civil engineering companies exceeded revenue and profit targets for the year and generated 46% of UK turnover.

Contracts with councils, Network Rail, London Underground infrastructure companies and British Airways provided a steady flow of work in highway design and planning, rail station improvements and projects at Heathrow and Gatwick Airports, Waterman said.

It added that demand for its services was increasing despite uncertainty over the global economy.

"Our balance sheet is in good health and gearing across the group is low," chief executive Nick Taylor said.

"We are very conscious of the current difficulties in the financial sector, but the group remains committed to maintaining our strong reputation and growth in expanding markets."

All data suppied by Digital Look (15 minute delay)




Risk Warning

There is an extra risk of losing money when shares are bought in some smaller companies including 'Penny Shares'. There is a big difference between the buying price and the selling price of these shares. If they have to be sold immediately, you may get back much less than you paid for them or you may have difficulty in selling them. Past performance is not a reliable indicator of future results. The price may change quickly and it may go down as well as up. You could lose every penny put into a particular share.

The information contained above has been compiled from documented sources which are believed to be reliable but, due to their very nature, are subject to a degree of historical inaccuracy and have not been independently verified and cannot be guaranteed. The pages on this website are provided for information only. City Equities Limited will not accept responsibility for loss incurred by any person or body acting, or refraining from acting, as a result of information and/or opinions given anywhere on this website. Issued by City Equities Limited, Aldermary House, 10-15 Queen Street, London, EC4N 1TY. Registered in England. Registered No. 2742847. Registered Address: Amwell House, 19 Amwell Street, Hoddeson, Herts. EN11 8TS. City Equities Limited is Authorised and regulated by the Financial Services Authority. Registration No. 155051.