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WYG posts another loss, but UK performance improves

Consultant WYG has reported another pre-tax loss for the six months to 30 September.

The firm was in the red to the tune of £416,000 (H1 2013: £743,000) on revenue of £63M (H1 2013: £63.9M).

Its profit was reduced by a £1.7M cost for share options to unnamed beneficiaries.

However, WYG’s UK business recorded a 13% increase in revenue to £40M, driven by growth in infrastructure and planning work.

CEO Paul Hamer (pictured) said: “We have enjoyed a very positive first half. “Building on last year’s momentum, the UK has performed particularly well and we have retained or won the overwhelming majority of the key framework agreements that we have bid for, which are expected to generate a substantial proportion of our revenues over the next two to three years.

“We have also won a number of important new international contracts, significantly improved our order book, and further strengthened our business through acquisitions and investments.”

WYG acquired Alliance Planning in September for £3.2M. Last year, Alliance Planning reported turnover of £3.3M and pre-tax profit of £800,000.

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