Internationally focused consultant says Bahrain office is now fully operational again
Consultant Hyder has sought to reassure the market that its international operations have not been hit by the turmoil in the Middle East.
In a statement released to the City this morning, it said that its Bahrain office, which accounts for 2.5% of the company’s staff, was “trading normally.”
The office had been shut until 22 March in response to street violence in the Kingdom’s capital, Manama.
“In the Middle East we operate in the UAE, Qatar, Bahrain and Saudi Arabia, and have won valuable work in each of these countries,” the firm said.
“The group has performed in line with the board’s expectations.”
It also said that work had been disrupted in Queensland, Australia, after flooding there earlier in the year, but did not think the impact would be big.
“In Australia our performance is well ahead of the prior year and in line with plan. Some opportunities there are being deferred following the Queensland flooding, although we do not anticipate that this will have a material effect,” it said.
Hyder’s share price has nudged up almost 2% today following the announcement.
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