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WYG announces a drop in revenue despite buoyancy from overseas markets

Global infrastructure consultancy WYG, which has a large environmental division that incorporates waste management, has announced a fall in revenue of £41m in the past year, according to its full- year results.

But while overall revenue was down, overseas revenue increased by £12.5m in the same period and the group announced a £7.2m overall operating profit.

WYG has admitted that it faced very difficult market conditions in the UK and Republic of Ireland during the year and, as a result, a major capital restructuring programme was completed.

WYG will now be focused and report in four key global market segments: buildings & critical infrastructure; transport solutions; energy, sustainability & environment; and risk & assurance services. This was done so that each area of the group’s activity is managed on a global basis.

Commenting on the results, chief executive Paul Hamer said: “The overseas markets in which we operate have proved more resilient than some of our domestic markets. Although domestic markets have been and remain very challenging, we continue to support and grow strong relationships with our existing domestic clients.

“While we expect domestic markets to remain unpredictable for the foreseeable future, we are encouraged by the way in which some important overseas markets for our services are growing, and this should partially mitigate the effect of the difficulties in the UK and Ireland.”

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