WYG Plc Update on cash receipts (7091A)

TIDMWYG

RNS Number : 7091A

WYG Plc

02 January 2018

2 January 2018

WYG plc

("WYG" or "Company")

Update on cash receipts

WYG, the international programme, project management and technical consultancy, announces the following update to its Half Year Report.

In our Half Year Report, published on 5 December 2017 (RNS Number 3534Y), we referred to the impact on our cashflow of the build-up of working capital in Turkey and stated that: "We expect significant cash receipts from our business in Turkey before the calendar year end".

The Board is pleased to confirm that, as at the opening of business on 2 January 2018, WYG's Turkish subsidiary had received EUR13.3m of the c. EUR14.0m due and we remain confident that a significant proportion of the balance will also be paid in due course.

This announcement contains inside information for the purposes of

Article 7 of Regulation (EU) 596/2014.

Contacts:

 
 WYG plc                                   Tel: 0113 
  Douglas McCormick, Chief Executive        278 7111 
  Officer 
  Iain Clarkson, Chief Financial Officer 
 MHP Communications                        Tel: 020 
  Katie Hunt / Ollie Hoare                  3128 8100 
 N+1 Singer                                Tel: 020 
  Sandy Fraser / Rachel Hayes / James       7496 3000 
  White 
 WH Ireland Limited                        Tel: 020 
  Tim Feather / Ed Allsopp                  7220 1666 
 

ENDS

NOTES TO EDITOR

About WYG

WYG is a leading programme, project management and technical consultancy employing over 1,600 people and operating from more than 50 locations across the UK, Europe, Africa, Asia and the Middle East. We specialise in creating and managing strategic assets for our clients. We engage with them in the early stages of a project, and often continue to advise them throughout its lifecycle.

Outside the UK, we have a strong, longstanding presence in a number of EU member states and pre-accession countries. We are a leader in international development, exporting our knowledge and networks to undertake ambitious projects that make a positive impact on infrastructure, socio-economic growth and the environment. Our in-house expertise encompasses seven global sectors: defence & justice, energy & waste, environment, mining & metals, social development and infrastructure, transport, and urban development. We also bring together a network of more than 20,000 partners and associates from around the world. This breadth of skills and knowledge allows us to provide a unique integrated approach to solve complex challenges wherever in the world our clients need us.

WYG plc's shares are traded on AIM, a market operated by the London Stock Exchange.

This information is provided by RNS

The company news service from the London Stock Exchange

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January 02, 2018 06:02 ET (11:02 GMT)