Waterman Group PLC Trading Update (5556F)
01 August 2016 - 4:00PM
UK Regulatory
TIDMWTM
RNS Number : 5556F
Waterman Group PLC
01 August 2016
WATERMAN TRADING UPDATE
Waterman Group plc ("Waterman" or "the Group"), the engineering
and environmental consultancy, today releases a period end trading
update for the year ended 30(th) June 2016.
Waterman has experienced a successful trading period. The Board
expects to report results which exceed its previously declared
financial objective of tripling adjusted annual profit before tax
to GBP3.3m over the three year period to 30(th) June 2016.
Our continuing emphasis on working capital management has
resulted in a further significant improvement in the Group's net
cash position. Notwithstanding the increased levels of activity,
the Group expects to report net funds at 30(th) June 2016 of
GBP5.4m, up from GBP3.8m at 30(th) June 2015 (GBP6.6m at 31(st)
December 2015).
Whilst the recent EU Referendum decision has generated a period
of uncertainty for markets, it is too early to speculate what
impact, if any, there will be on Waterman's future prospects. In
the five weeks since the Referendum we have continued to experience
good levels of enquiries. We have been appointed for several new
commissions across a wide range of development activities, some of
which have been outlined in recent announcements.
The Group expects to announce its preliminary results for the
year ended 30(th) June 2016 on 10(th) October 2016.
- ends-
Date: 1(st) August 2016
For further information please contact:
Capital Access
Waterman Group plc Group N+1 Singer
Nick Taylor, Chief Executive Simon Courtenay Sandy Fraser
Alex Steele, Chief Financial
Officer 020-3763-3400 020-7496-3178
020-7928-7888
www.watermangroup.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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