White Young Green (WYG) is likely to make another acquisition this year following its report of a 28% rise in interim pre-tax profit.
John Purvis, WYG’s chief executive, who announced his retirement on Tuesday, said the strategy of buying “earning enhancing” businesses in tandem with pursuing organic growth would continue.
In the six months to 31 December, the consultant spent £17m on four acquisitions: Trench Farrow, Adams Kara Taylor, Malachi Cullen and Turner Holden. Purvis said the businesses were in areas with high margins, which increased their impact on the results.
Pre-tax profit grew 28% to £6.9m for the six months to 31 December, on the back of a 26% increase in revenue to £99m.
Peter Wood, the chairman, said: “WYG enters the second half of the financial year with confidence and optimism. Trading conditions are favourable in all key markets, the order book is at record levels and prospects are strengthening.”
Purvis will retire on his 60th birthday in October, after 17 years at WYG, but will step down as chief executive in June.
His successor will be announced soon and is likely to be appointed from outside the company. Purvis plans to spend more time with his family and work in the voluntary sector.