Waterman Group PLC Trading Update (5556F)

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RNS Number : 5556F

Waterman Group PLC

01 August 2016

WATERMAN TRADING UPDATE

Waterman Group plc ("Waterman" or "the Group"), the engineering and environmental consultancy, today releases a period end trading update for the year ended 30(th) June 2016.

Waterman has experienced a successful trading period. The Board expects to report results which exceed its previously declared financial objective of tripling adjusted annual profit before tax to GBP3.3m over the three year period to 30(th) June 2016.

Our continuing emphasis on working capital management has resulted in a further significant improvement in the Group's net cash position. Notwithstanding the increased levels of activity, the Group expects to report net funds at 30(th) June 2016 of GBP5.4m, up from GBP3.8m at 30(th) June 2015 (GBP6.6m at 31(st) December 2015).

Whilst the recent EU Referendum decision has generated a period of uncertainty for markets, it is too early to speculate what impact, if any, there will be on Waterman's future prospects. In the five weeks since the Referendum we have continued to experience good levels of enquiries. We have been appointed for several new commissions across a wide range of development activities, some of which have been outlined in recent announcements.

The Group expects to announce its preliminary results for the year ended 30(th) June 2016 on 10(th) October 2016.

- ends-

   Date:   1(st) August 2016 

For further information please contact:

 
                                Capital Access 
 Waterman Group plc              Group            N+1 Singer 
 Nick Taylor, Chief Executive   Simon Courtenay   Sandy Fraser 
 Alex Steele, Chief Financial 
  Officer                       020-3763-3400     020-7496-3178 
 020-7928-7888 
 www.watermangroup.com 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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August 01, 2016 02:00 ET (06:00 GMT)