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WYG predicts rise in profits

Consultant WYG has predicted a rise in operating profit by 10% above market expectations for the full year of 2012, the firm said in a trading update released today.

The increase will come despite lower than expected revenues “at the adjusted pretax level” said the firm in its statement.

“Having announced the Group’s return to operating profit on 29 November, we are very pleased to see that the positive progress in the half year has continued in the second half, enabling us to report on another milestone for the Group; an expected return to profit at the pre-tax level,” said WYG chief executive officer Paul Hamer.

WYG announced a return to operating profit in late 2012 following a restructuring of its business and the sale of its Ireland division.

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