WYG back in the black
PROJECT consultancy WYG has secured a deal to buy its Northern Ireland businesses as it returns to operating profit.
The firm announced last month it was putting its struggling Irish business into liquidation but was hoping to buy its Northern Ireland subsidiaries which have remained profitable.
The firm, which has offices in Liverpool, Mold and Trafford Park, Manchester, confirmed it had reached agreement with the provisional liquidators to buy the businesses in a deal securing 90 jobs.
It also told shareholders that it expects to report a small operating profit for the six months to the end of September.
Chief executive Paul Hamer said: “Having stated, on 7 June, that we were confident of returning the Group to operating profit in the near term, we are delighted to announce that this milestone in the group’s turnaround will be reached in the first half of the current year.
“Now that we have achieved this significant target, we are well placed to progress with our shift in focus from internal improvements to creating higher quality revenues through the delivery of our Global Integrated Strategy and look forward to updating the market on our progress in November.”
WYG made an operating loss of £2.5m for the first six months of its last trading year.
