Scott Wilson is to target organic turnover growth of 10% and operating margins of 8% after posting strong interim results for the six months ending 29 October 2006
In its first six months of trading as a stock market-listed company the firm saw revenues increase by 23% from £92.1M to £113.2M over the same period in 2005. Profit before tax more than doubled from £3.6M to £8.0M.The firm also boasts a record order book of £250M following major contract wins including the East London Line, Crossrail, Edinburgh Airport Rail Link, Greece Ionia Odos Motorway, Bahrain Islands Developments and Bath's Combe Down Mine Stabilisation.'The strength of our markets combined with our record order book allows us to look forward to the future with confidence,' said chairman Geoff French. 'We now expect results for this financial year to exceed current market expectations.'The results reflect the acquistion in May 2006 of the 30% minority interest in Scott Wilson Pavement Engineering and the acquistion in June 2006 of Canadian mining firm Roscoe Postle. But they do not include the recent purchases of Northern Ireland consultant Ferguson Mcllveen; Cameron Taylor Group and DGP International'Our recent acquistions have broadened the Group's presence in strategically key market sectors in line with our stated strategy. The integration of these acquistions is now well under way and it is expected that they will help us realise significant operating synergies.'