黑洞社区

Last week, the firm reported a pre-tax loss of 拢745,000 in the six months to the end of September, down from a pre-tax profit of 拢38.7m over the same period last year.

But chief executive Paul Hamer told 黑洞社区 he still expected the business to make a pre-tax profit of 拢300,000 for the year to April 2013, in line with forecasts.

He added: 鈥淭he UK region, for the first time in a long time, will be profitable. We expect in the second half [of 2012-13] that the UK will get into positive operating profit.

鈥淲e are now actively building an acquisition pipeline and there are a number of targets that are progressing through that pipeline,鈥�

He said the firm would look to acquire 鈥渘iche鈥� businesses which helped WYG strategically to enter new technology markets such as carbon capture and storage or new geographical regions.

Hamer said he wanted high margin businesses and predicted he could return WYG to margins of between six and seven per cent in most sectors in around three years.

He added that margins for WYG were improving all the time as overhead costs from the firm鈥檚 restructuring of the past two years, such as old office contracts, expired.

Commenting on the results, Hamer hailed an operating profit before exceptional items of 拢300,000 as a 鈥渕ilestone in the turnaround of the group鈥�.

However, the exceptional items, which included a 拢1.3m share option cost, pushed the group to an operating loss of 拢66,000 which combined with finance costs of 拢679,000 resulted in a pre-tax loss of 拢745,000.

The firm鈥檚 revenue fell from 拢68.5m in the six months to the end of September 2011 to 拢61.8m over the period. Its revenue in the UK also fell from 拢35.1m to 拢32m.

The firm saw revenue in its Eastern Europe business fall from 拢18.9m to 拢15.1m over the period but revenue from the Middle East, North Africa and Turkey was flat at 拢6.7m. Plus, revenue from the rest of the world grew from 拢700,000 to 拢800,000.