- Solid order book of £120m driven by strong UK demand.
- Employee numbers have increased by 15% during the last twelve months to service the growth in the UK market.
- ROCE increased to 18.8% (FY 2014 1st Half: 12.6%) as the Group drives towards its target of 20%
*Adjusted for amortisation of acquired intangible assets and exceptional items.
Commenting on the results, Nick Taylor, Chief Executive said:-
“ Waterman operates in the Property and Infrastructure markets where our niche position enables us to focus on our loyal clients and recruit high quality talent to service our expanding workload.”
“ The period has seen Waterman make significant progress towards delivering the strategic targets of tripling annual adjusted profit before tax to £3.3m over the three year period up to June 2016 and generating a return on capital employed of 20%.”
“ In line with this strategy we have focused our resources on the UK market which is now generating 89% of Group revenue and delivered 29% growth. Overseas, our European operations in Ireland and Poland are experiencing positive and improving trading environments whilst demand in Australia remains stable.”
“The Board looks forward to the remainder of the financial year and beyond with confidence.”
For further information please contact: