Hyder Consulting PLC, the multi-national design and engineering consultancy, today provides an update in advance of its results for the year to 31 March 2014, which will be announced on 11 June 2014.

Trading performance

The Group has performed in line with our revised expectations for the year.

Following the general election in Australia bidding activity in the transport sector remains high though, as previously reported, funding decisions have delayed contract awards.

In the Middle East we have a range of promising opportunities throughout the region. In Qatar we are working on a number of large infrastructure projects, our business in Saudi Arabia is growing and the UAE market is improving.   

Our UK business has performed well this year, particularly in rail. In Germany we have reduced our cost base to align it with projected revenues.

Acquisitions

Effective 1 March 2014 the Group acquired Queensland-based Flinders Group Pty Ltd, environmental planning consultants mainly in the energy sector.  Initial cash consideration was £2.2 million, with a further £1.0 million payable on performance. This builds on Hyder's growing expertise in the energy sector and follows on from the acquisitions of ESR Technology in 2011, Power Systems Project and Consultancy Services in 2012 and PLD Consulting Pty Ltd earlier this year.

Financial position

The Group remains in a strong financial position with substantial net cash balances and unutilised banking facilities.

Outlook

We are encouraged by the recovery in the UK and our expansion in the Middle East. Australia's contribution remains strong, and the profit from our three largest territories is well balanced. We have an excellent order book, our financial position is strong and we have confidence in the Group's future prospects.

Enquiries:

Hyder Consulting PLC                  
Russell Down, Group Finance Director                        Tel: 020 3014 9000

Citigate Dewe Rogerson
Ginny Pulbrook                                                                      Tel: 020 7282 2945

Notes:

1.  About Hyder Consulting : Hyder Consulting is a multi-national design and engineering consultancy operating in Asia, Australia, the Middle East, Germany and the UK. We employ approximately 4,000 people and apply our global expertise coupled with local knowledge to create award winning solutions for the transport, property, utilities and environment sectors.

2.  This announcement is based on information obtained from unaudited management accounts.

3.  This announcement contains certain forward-looking statements with respect to the financial condition, results of operations and businesses of Hyder Consulting PLC. These statements involve risk and uncertainty because they relate to events and depend upon circumstances that will occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those indicated by these forward-looking statements. Nothing in this announcement should be construed as a profit forecast.

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