Confident Waterman Remains on Track With Half Year Results

LONDON, February 27, 2015 /PRNewswire/ --

Waterman Group Plc, the engineering and environmental consultancy, today announces its interim results for the six months to 31 December 2014. The company reports a revenue growth of 25% and profit growth of 57%. It remains on track to deliver the strategic targets of tripling annual adjusted profit before tax to £3.3m by July 2016 and generating a return on capital employed of 20%.

Waterman's strategic focus is primarily concentrated to the UK market where longstanding client relationships remains the main driver for future growth. The UK operation generates almost 90% of the company's revenue and is performing very strongly with employee numbers increasing by 15% over last twelve months.

Nick Taylor, Chief Executive of Waterman commented: "2014 was a significant year for Waterman. We have implemented a major restructure and re-focused the business from an international to a specialist firm with a primary focus on the UK market. Our strengthened position in the UK is a particular highlight following the recent consolidations of the major players which have created great opportunities for us. We have established a strong niche position in the property and infrastructure markets which enables us to focus on our loyal clients and recruit high quality talent to service our expanding workload."

Waterman's broad portfolio encompasses some of the most significant regeneration projects in the UK, including Battersea Power station and Brent Cross in London. The company anticipates a continued revenue growth throughout the UK, most particularly from retail and residential developments and in the highways infrastructure market.

Among many recent success, Waterman was involved in the design of the recent award-winning Everyman Theatre, which scooped the RIBA Stirling Prize Award for 'Best New Building of the Year'. The company has in the last month been announced as a finalist in four other prestigious awards, namely NCE/ACE Consultants of the Year for 'UK Consultant of the Year', the 2015 Building Award for 'Sustainability Project of the Year', the BCO Regional Award for 'Best Commercial Workplace' and the Ground Engineering Award for 'Ground Investigation Project of the Year'.

The Board states in the Interim Management Report that it is looking forward to the remainder of the financial year and beyond with confidence.

The full Interim Management Statement is available on http://www.watermangroup.com/investors

About Waterman Group 

Waterman Group is a multidisciplinary consultancy providing sustainable solutions to meet the planning, engineering design and project delivery needs of the property, infrastructure, environment and energy markets. Founded in 1952 and listed on the London Stock Exchange since 1988, Waterman has grown into a leading engineering and environmental consultancy with offices throughout the UK, Europe and Australia. Waterman works with government agencies, local authorities, government-regulated industries and private sector clients to provide innovative, sustainable and economic solutions across a wide spectrum of business activities. The firm has extensive experience in property and buildings, environmental consultancy, power and energy, roads, highways and rail infrastructure, urban and regional planning. Award winning teams provide professional services throughout the complete life cycle of the asset starting from initial surveys and concept planning, through to design, delivery, project management, supervision and on-going maintenance. See more information on http://www.watermangroup.com

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SOURCE Waterman Group PLC