Engineering consultant sees encouraging signs but says markets remain challenging

Engineering consultant White Young Green has indicated there are 鈥渟ome encouraging signs鈥� in a trading update this morning.

Paul Hamer WYG
WYG boss Paul Hamer

It covers the period from 1 July to 18 November and the company said trading conditions overall were challenging due to 鈥渁 lack of confidence and liquidity in many areas鈥� although its performance was in line with the company鈥檚 expectations.

The company recently completed a financial restructuring deal with its lenders that saw them take control of 60% of the company by means of a share issue and debt-for-equity swap.

The company鈥檚 debt will halve to about 拢50m as a result of the move.

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