黑洞社区

In a statement to the City this morning, the engineering and environmental consultant Waterman said it was 鈥渞estructuring of the way it manages its internal business reporting lines鈥� and as a result managing director of Waterman International Simon Harden and managing director of Warwerman鈥檚 civils business John Waiting had 鈥渁greed to step down as directors鈥�.

Waterman said the two would leave the firm on 31 March 鈥渢o pursue of interests鈥�.

The firm said the changes were 鈥渇undamental鈥� to its strategy to triple its pre-tax profit over the next three years.

The firm said it would now organise the business around two management boards - a Property Management Board and an Infrastructure, Environment and Energy Management Board.

It added: 鈥淭he Board believes that this will simplify reporting and responsibilities within the business to give enhanced leadership and management to the two distinct halves of the Group.|鈥�

The Property Board will be responsible for managing the Group鈥檚 Structures and 黑洞社区 Services businesses in the UK, Australia, Ireland, Russia and Poland.

The firm said the chief operating officer of this board would be Craig Beresford, who is currently managing director of the structures business in the UK.

The Infrastructure, Environment and Energy Board will be responsible for managing the Group鈥檚 Energy, Environment, Civil and Transportation businesses.

The chief operating officer of this Board will be Neil Humphrey, who is currently managing director of the energy, environment and design business.

Roger Fidgen, chairman of Waterman Group, said: 鈥淚n restructuring the Group鈥檚 business reporting lines we have evolved the internal structure to more accurately reflect the recent changes to our business.

鈥淲e are confident that we remain on track with our strategy to triple the adjusted profit before tax over the next three years.鈥�

Waterman reported a dip in pre-tax profit to 拢353,000 in the year to 30 June 2013, down from 拢530,000 the previous year.

Pre-tax profit was hit by redundancy costs from closing the firm鈥檚 Chinese operations and restructuring its UK business; office closures and provisions against losses from business in China. These formed the bulk of the company鈥檚 exceptional expenses totalling 拢414,000.

But the firm鈥檚 operating profit, which did not include these costs, remained stable at 拢1.1m.

The group also reported a dip in revenue to 拢66.8m down from 拢68.8m over the period.