Consultant confirms operating profit will be slightly above 拢5.25m after 鈥榮trong year鈥�

Paul Hamer

WYG has announced that operating profit for the year to 31 March 2015 will be slightly more than 拢5.25m, and therefore in line with expectations.

The announcement confirms a profit forecast made in September, prior to a strategic review that placed the consultant in a formal 鈥渙ffer period鈥�. The review could recommend the sale of the business, a merger, strategic partnership or new borrowing arrangements.

An update on the strategic review will be published in June with the group鈥檚 final results for the year to March 2015.

Paul Hamer, WYG chief executive, said: 鈥淭his has been another strong year for WYG [鈥 Our focus on bidding less and bidding bigger to win more is supporting a strong win rate which we believe will serve us well as we focus on converting a healthy pipeline of UK and international opportunities and continuing to win places on further frameworks.鈥�

At the time of announcing its strategic review in January, WYG said it was considering a range of options to 鈥渢ake full advantage of [our] growth potential.鈥�

The firm added: 鈥淭he review will, therefore, incorporate a range of strategic options including a potential corporate transaction, such as a strategic partnership, a merger or acquisition to enhance the scale and breadth of WYG鈥檚 platform, the acquisition of or subscription for the company鈥檚 securities by a third party, a sale of the company, a new or extended bank facility or continuing to invest in expanding the business organically and through partnerships and bolt-on acquisitions.鈥�

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