Scott Wilson reported an increase in operating profit from £10.1M to £11.5M and an increase in operating margin from 6.7% to 7.3% in its interim results today.
It has also maintained an order book of £280M. The results took into account the redundancy costs incurred - Scott Wilson currently has a total of 6,000 staff across the world, 10 per cent lower than the peak at mid 2008, almost half of whom are now outside the UK.
“The first six months of the year have seen a return to a more stable trading environment following the impact of the recession at the end of the last period,” said Scott Wilson chairman Geoff French. “Although the UK market remains relatively weak, Scott Wilson has benefited from the government’s ongoing commitment to roads and railways and its focus on renewable energy due to our expertise in those areas.”
Scott Wilson plans no significant growth in our UK business this year or next, but sees continuing growth opportunities in international markets, in particular China and India.
“The international business continues to go from strength to strength, reflecting the benefits of years of investment outside the UK and the brand recognition we have established in key regions together with the new management structure we have implemented globally,” said French.
“Notwithstanding the economic uncertainty, our diversified business model, strong order book and financial strength continue to give us confidence that we can respond effectively to market developments and opportunities as they arise.”