Revenue and profit are both ahead of expectations at engineering and environmental consultancy Waterman Group.
Preliminary results for year ended 30 June 2008 show that revenue at the firm was up by 31% to £136.4 million, and profit before tax was up 37% to £7.0 million.
The strong results follow the firm’s geographical diversification into the Middle East, Russia, Kazakhstan and China. The consultancy has just announced plans to open its first office in India. The firm has 49 offices located in 15 countries.
Chief Executive Nick Taylor said: “We have achieved our target of increasing the adjusted profit margin by 10%, which is a major accomplishment. We have recorded significant growth across the Group with a particularly pleasing performance from our overseas operations which have increased revenue by 57%, accounting for 32% of global Group turnover”.
Taylor said that looking ahead the firm’s balance sheet was “in good health”.
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