Hyder UK on road to recovery
Consultant Hyder is reaping the benefits of more than two years of restructuring with pre-tax profits up a third at £18.5m.
Australia is fast becoming the consultant's most important market, bringing in a £14m operating profit in the year-end March.
For the first time the region made the biggest contribution to total group revenue of £290m.
The UK consultancy has also turned the corner with adjusted operating profit up 77% to £5.5m on revenue down to £87m from £96m last time.
This helped margin in the UK creep back to 6.3% after absorbing £1.1m in redundancy costs.
Major UK projects secured
Highways Agency, Project Support Framework
Kent-Sussex platform extensions
Bicester Eco-Town
Walsall & Cannock signaling renewal
Southern Water AMP 5 frameworks
Sir Alan Thomas, chairman, said: "We've concentrated on the regions and sectors we understand well and where Hyder has distinctive expertise. As a result, earnings, cash and dividends have improved further in what have been variable, and not always helpful, economic conditions.
"We want to continue to grow earnings by further market penetration in our selected sectors of transport, utilities, property and environment.
"These four sectors are driven by the growing demands of urbanisation, mass transit, climate change and water and power scarcity, areas in which Hyder is internationally competitive."