06/04/2009
Pre-close Statement
Hyder Consulting, the international advisory and engineering design consultancy, expects to announce its results for the year ended 31 March 2009 on 8 June 2009.
The Group has substantially completed the restructuring announced on 12 February 2009 to align regional operations to core markets, improve efficiency and deal with changes in market conditions. Trading for the year has been in line with current market expectations and ahead of the prior year. The year end net debt position will be substantially better than market expectations primarily as a result of a strong focus on cash generation, although collection of trade debt is more difficult in the current economic climate.
Whilst there remains uncertainty in the Group's markets, with over 65% of revenues derived from overseas, Hyder's diversity, strong order book and low gearing gives the Board confidence for the future.
Contacts:
Ivor Catto, Chief Executive 0207 904 9011
Russell Down, Finance Director
0207 904 9020
Shane Dolan, Biddicks, 0207 448 1000
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