Engineering and environmental consultancy sees profit boost after revenue grows 10%
A focus on the UK has boosted profit at Waterman Group by 64% to 拢1.8m over the second half of 2015, according to the firm鈥檚 latest half-year results.
The engineering and environmental consultancy saw revenue grow 10% to 拢45.4m, up from 拢41.4m for the same period the previous year.
The growth comes despite lower earnings from the group鈥檚 Australian operations due to a weaker Australian dollar.
According to Waterman the results are the outcome of a strategy which has seen the firm focus on more established and stable markets in the UK, Australia and Ireland. Waterman generated 90% of its revenue from the UK in 2015.
Adjusted operating profit margin increased to 4.1% from 3.3%, which is on track to meet Waterman鈥檚 aim to achieve a profit margin of 6.0% by 2019.
Commenting on the Interim Results, Nick Taylor, Chief Executive said: 鈥淲aterman鈥檚 performance continues to strengthen. With the UK markets generating 90% of revenue.鈥�
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