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WYG reports UK order book up 15% in last six months

WYG’s UK order book is up 15% in the last six months - and its international order book up 20%.

The consultancy revealed the figures in a trading update for the six month period ending 30 September 2015.

Chairman Mike McTighe said: “During the first half of the year the group has delivered a very strong performance in its UK business, underpinned by continuing economic growth and infrastructure spending which are the main drivers of our core front-end planning and consultancy business. Our expectation is that this will continue for the remainder of the year.

“Significantly, our UK order book, which includes only fully secured projects, is up 15% on the figure we reported as at 31 March 2015. Pleasingly, not only is our order book increasing, it is also growing at a faster rate. This reflects an improving bid to win ratio on long term frameworks and the increasing flow of work from major public and private sector clients. The relatively short term nature of a large proportion of our UK order book means that work translates into revenue more quickly than in other regions, which gives us good near term visibility.”

Meanwhile, project wins in Europe have boosted international figures.

McTighe said: “The delay in the ramp up in the EU funding cycle has been well-documented. However, as the period has progressed a large proportion of our EU-related pipeline has converted into firm project wins, such that at the half year our international businesses have delivered an even greater increase in order intake than in the UK, up more than 20% on the figure reported as at 31 March 2015. 

“A meaningful proportion of these wins represent multi-year projects that will drive performance as we go into the second half of the year and for several years beyond.”

Full year financial results are expected to be in line with expectations.

Following its acquisition of FMW earlier this year, McTighe said more acquisitions were in the pipeline.

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