Strong property market boosts environmental consultancy

ENGINEERING and environmental consultancy, Waterman, which has an office in Birmingham, has seen a stronger than expected year based on a health property market.

In a pre-close update for the year to June 30, 2016, the group said it expected to report results ahead of its declared objective of tripling adjusted annual pre-tax profit to £3.3m over the three-year period to year-end.
 
“Our continuing emphasis on working capital management has resulted in a further significant improvement in the group’s net cash position,” it said.

“Notwithstanding the increased levels of activity, the group expects to report net funds of £5.4m, up from £3.8m at June 30, 2015 (£6.6m at December 31 2015).”
 
In the five weeks since the EU Referendum, the group said it had continued to experience good levels of enquiries and it has been appointed to several new commissions across a wide range of development activities.

The group expects to announce its preliminary results for the year ended June 30, 2016 on October 10.