LONDON (ShareCast) - Construction and property consultancy firm Cyril Sweett said 2010 revenue is expected to be £67m as it cuts its cost base.
"Revenue for the period is expected to be £67.0m, delivering pre-exceptional PBT of approximately £3m," the group said in a company statement.
Cyril Sweett said it delivered a further annualised cost saving of £3.3m, in addition to the £11.0m delivered last year.
The group said it also finished the year in a strong financial position with neutral net cash, as a result of over 100% of operating profits being converted into operating cashflow.
The company added, "Through its geographic and sector diversity, the group was able to adapt to shifting demand across sectors. This has been core to the relatively robust performance in 2009 and management will continue to focus on further strengthening this diversity in 2010 and beyond."
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