Paul Hamer, chief executive of consulting engineer WYG, has spoken of the 鈥渉uge difference鈥� its restructured balance sheet has made when bidding for work

The deal, which was voted through by shareholders last month, cut its debt pile in half to about 拢50m in return for giving its banks a 60% stake in the company.

Speaking after WYG announced its results for the six months to 31 December 2009 last week, Hamer said the fact that debt was at a 鈥渟ustainable level鈥� following its refinancing deal had had a positive effect.

He said: 鈥淭he financial position is one of the key factors when clients assess your strength and we now have that strength.鈥�

In the six months to 31 December, turnover fell 20% to 拢115.2m and the firm made a post-exceptional loss of 拢4.6m.

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