好色先生TV

WYG is looking at six different companies with a view to making further acquisitions.

This is despite its sale last week of specialist engineer Adams Kara Taylor and the fact that it has taken 拢12.1m in writedowns of companies it had bought before the recession.

锘縒e have learned a painful lesson and would focus on integrating

David Wilton, WYG

Announcing its results last Thursday for the six months to the end of 2010, the firm made a loss of 拢22m after exceptional items. The majority of this was because of the writedowns. Revenue fell 27%.

Nevertheless, WYG is considering bolt-ons of non-UK companies and has expressed an explicit interest in China. David Wilton, finance director, (pictured) said: 鈥淗aving spent two years cutting we would like to grow. We have learned a very painful lesson and we would focus on integrating the businesses.鈥�

On the pre-recession acquisitons, he said: 鈥淭he previous guys bought 38 business with no assets. We had 拢80m on the books from these businesses. The problem for us is that they are smaller than they were [before the recession].鈥�

The engineer came close to insolvency in 2009 after a strategy of rapid expansion fuelled by acquisitions unwound as a result of the recession. It was saved by a debt for equity swap with banks.

锘縒e have seen strong local public sector work in many countries

David Wilton, WYG

Wilton said WYG is attempting to offset a stagnant UK market by expanding overseas and has grown its global order book to 拢89.2m from 拢76.6m in 2009.

In the half year it expanded into Syria, Croatia, Bosnia and South Africa, and Wilton said it was looking at gaining a foothold in China.

鈥淭he good thing about international is that we have seen about 20% growth per annum,鈥� he said. 鈥淲e have seen strong local public sector work in many countries.鈥�

The group shrank by 400 employees to 1,748 staff, and another 100 have left since.