Engineering consultant says trading is 'in line with expectations' but implies it may cut more jobs

Engineering consultant Waterman said it was starting to see signs of recovery in Australia, as it announced to the city that recent trading was in line with expectations.

In an interim management statement it said that trading during the period was “in line with the board's expectations” and implied it was making further job cuts. It said: “We have continued to align our resources with our anticipated lower levels of turnover.”

It said that while the property sector within the UK and Europe remained depressed, the firm's Australian arm had seen “recent signs of recovery”. It added that it had also started to receive new enquiries for our business in the Middle East.

It added that UK public sector workloads remained healthy, particularly in the energy market.