Hyder year results to beat forecasts

Date: Tuesday 02 Feb 2010

Civil engineering consultant Hyder is at a six-week high after it said full-year revenue and operating profit should be slightly ahead of market expectations.

The firm, which has absorbed redundancy and other one off costs of about £3m, adds that the order book remains strong, blaming a ‘slight’ dip since the half-year on the scaling back of work in Dubai and foreign exchange movements.

Its workload and opportunity pipeline in the In Asia Pacific transport and property sectors are ‘robust’, while results in Europe are getting better.

The outlook for the UK utilities sector is improving although the environment sector and German property markets remain challenging,’ it said. ‘As expected the region's results overall are well below the prior period after taking redundancy costs into account.’

But with over 70% of revenues now earned outside the UK, Hyder says its geographical and sector diversification has enabled it to achieve ‘robust’ results.

‘The resilience of our core markets, improved key client relationships and strong order book gives us confidence in our ability to grow operating profits in the year ahead.’

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