Consultant Hyder has posted buoyant results for the half year ending 30 September driven by a strong performance in its overseas markets.
The firm’s revenues were up 8% on the same period last year to £150M, with pretax profits up 36% to £11M. Around 85% operating profits and around 75% of revenues were generated from international business, predominantly Asia Pacific & Australia.
The firm’s net adjusted operating margin stood at 9.0%, up significantly on 7.6% in the same period last year.
Headcount was also up 8% from 3,650 to 3,936.
Chief executive Ivor Catto said the results bucked the industry and proved that the firm’s strategy of focusing on key clients in five key geographies and four key sectors was working.
“We have proactively focused on the clients we can make a difference for and really add value,” said Catto. “We are now seeing evidence of that strategy coming through.”
Hyder is currently working on what will be the world’s tallest building, the 838m tall Sky City in Changsha, south-east China. It is also designing what will be the world’s biggest service reservoirs in Qatar and working on one of the world’s biggest metros, Doha Metro, also in Qatar. Catto said these wins proved that the firm’s technical depth was beyond question.
“We are doing the biggest and some of the most innovative projects in the world,” he said. “We are working on the world’s tallest buildings, biggest reservoirs and biggest metros. We have to have the top designers; we couldn’t be winning the work we are if we weren’t in the top tier.”
Catto said headcounts had grown in four of the firm’s five geographies, with only Germany showing a decline. He added that the firm would be recruiting around 120 graduates this year.