Engineer says it is on course to triple pre-tax profit within three years
Waterman has increased its headcount by 5% in four months, buoyed by the market recovery, the firm has said in a trading statement.
The engineering group said it remained on target to triple its adjusted pre-tax profit to 拢3.3m within three years, as stated in its results last month.
Waterman reported adjusted pre-tax profit of 拢810,000 in its last full-year results to 30 June 2012, once writedown costs from exiting the Russian and United Arab Emirates markets was excluded.
The firm also reported that its civil and transportation business - which reported a loss last year - was 鈥渆xperiencing a much improved performance [because of] the decisive actions taken to reorganise the business to ensure that the cost base is consistent with the scale of the market opportunity.鈥�
Waterman, led by chief executive Nick Taylor (pictured), added its Ireland and Australia businesses had enjoyed a 鈥減ositive start to the financial year鈥�.
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