Acquistions by environmental specialist help boost turnover and profit for six months to 30 September
Pre-tax profit at Hyder Consulting has more than tripled thanks to recent acquisitions.
The environmental specialist posted a profit before tax of £8.1m for the six months to 30 September, up from £2.7m. Shares rose 24.5p on the news to 405.25p.
Its acquisition of ecology specialist Cresswell Asoociates made a “significant contribution” to its results which saw turnover up 20% to £97.2m.
During the six months Hyder also added highway design consultancy Munnich Projeckt in Germany and planning and landscape architects ACLA in Hong Kong and China which are expected to boost its final year figures
Hyder has not finished its shopping spree for the year and still has plenty of appetite for acquisitions with the group planning to add more before the end of the year.
Chairman Sir Alan Thomas said: “We are very pleased with our first half results. Our markets are strong, our margins are improving and we are successfully integrating our acquisitions."
“We are continuing to pursue infill acquisitions utilising the new equity raised last month.
“With our strong order book and steadily improving margins, we anticipate another successful year.”