Engineering consultant sees encouraging signs but says markets remain challenging

Engineering consultant White Young Green has indicated there are “some encouraging signs” in a trading update this morning.

Paul Hamer WYG
WYG boss Paul Hamer

It covers the period from 1 July to 18 November and the company said trading conditions overall were challenging due to “a lack of confidence and liquidity in many areas” although its performance was in line with the company’s expectations.

The company recently completed a financial restructuring deal with its lenders that saw them take control of 60% of the company by means of a share issue and debt-for-equity swap.

The company’s debt will halve to about £50m as a result of the move.