Engineering consultancy's first half revenues will be 'towards top end of expectations'
Engineering consultancy Hyder issued a bullish trading update ahead of interim results for the six months ending 30 September, 2009, although it warned that results for its European region were “well below the prior year.”
Hyder said first half revenues and operating profit were “towards the top end of market expectations.”
In Asia Pacific, the firm said its overseas businesses had performed strongly, particularly benefiting from strong transportation and property activity.
It said businesses in the Middle East were performing well, broadly in line with last year and added that opportunities were increasing across the region.
Europe had been more mixed, said Hyder. While transport businesses had performed strongly, market conditions in the property and environment sectors had been “difficult.”
The firm took a one-off hit on redundancy costs of £1.5m.