Chief executive says firm will continue to target new markets and sectors

Sweett Group will continue to diversify its business after dropping the Cyril part of its name from its brand, the consultant’s chief executive Dean Webster has said.

The firm - which has been phasing out its old name globally for seven months - rebranded its European division on Tuesday.

Webster said the consultant would continue to target new international markets and sectors to diversify its earnings base. He said: “As we work with more global clients it makes sense to consolidate into one global brand.”

He said the consultant was particularly targeting growth in China and South-east Asia, after opening offices in Thailand and Vietnam to complement its existing presence in Singapore.

In the UK the firm is targeting the energy and infrastructure sectors, particularly in rail.

The consultant posted a loss of £100,000 for its first half results to the end of September 2011, but the consultant said the loss reflected exceptional costs from a restructure to achieve annual operational savings of £2m.

Analyst Arbuthnot predicts Sweett will rebound to a profit of £3m for the full year to 31 March. The firm’s ticker symbol on the stock market will remain as CSG, despite the rebrand.