White Young Green said organic growth and acquisitions contributed to healthy half-year results
White Young Green has delivered a 28% increase in interim pre-tax profit thanks to both organic growth and acquisitions.
It also announced the retirement of chief executive John Purvis.
The consultant spent 拢17m on four acquisitions comprising Trench Farrow, Adams Kara Taylor, Malachi Cullen and Turner Holden. The deals helped pre-tax profit 28% grow to 拢6.9m for the six months to 31 December 2006. Revenue was up 26% to 拢99.1m and underlying organic growth was 11% up from 10% for the same period in 2005.
The group said it would continue to look for acquisitions in the future.
Purvis will retire when he reaches his 60th birthday in October after 17 years at the company but will step down as CEO in June. A successor will be announced shortly.
The WYG board has also added Robert Barr as a non executive director. He is the chief executive of Heywood Williams.
Commenting on the results, chairman Peter Wood said: 鈥淚 am delighted to report an excellent set of results. WYG enters the second half of the financial year with confidence and optimism. Trading conditions are favourable in all key markets, the order book is at record levels and prospects are strengthening as WYG engages positively to address many of the key demand led issues facing our communities today.鈥�
No comments yet