Trading Statement
Scott Wilson Group plc
09 May 2007
9 May 2007
SCOTT WILSON GROUP PLC
YEAR END TRADING UPDATE
Scott Wilson Group plc ("Scott Wilson" or "the Group"), the international
consultancy offering integrated professional services in the transportation,
property, environmental and natural resources sectors, today issues a year end
trading and acquisition update prior to the announcement of its full year
results for the year ended 30 April 2007, due to be released on 12 July 2007.
Trading Update
The Group has continued to make good progress in the second half of the
financial year against a background of buoyant trading conditions in key
markets. Accordingly, the Board is confident that it will report full year
results ahead of market forecasts.
At flotation the Group set out a clear strategy for achieving sustained growth,
both organic and by acquisition. In addition to strong underlying growth, the
acquisitions made since flotation are performing well and the integration
process is on plan.
The Group has also continued to benefit from a strengthening order book,
supported by a number of major contract wins previously announced during the
year, as well as several other significant contracts. As a result, the Group
also expects to report that the secured order book at the year-end has once
again reached a record high, creating a favourable background for further
progress in the year ahead.
DCL Consulting Engineers Ltd.
Also announced today is the acquisition of DCL Consulting Engineers Ltd., a
building services consultancy based in Southwest England, for a maximum
consideration of £1.1m. The consideration payable on completion is £0.3m in
cash and £0.4m by the issue of 118,375 new ordinary Scott Wilson Group shares.
The deferred consideration of £0.4m will be paid in three equal annual tranches
by the issue of further Scott Wilson Group shares, subject to performance
targets being met. DCL's unaudited results for the year ended 31 March 2007
show revenue of £1.7m and net tangible assets of £0.5m.
Application will be made for the new Scott Wilson ordinary shares to be issued
at completion, which will rank pari passu in all respects with the existing
issued share capital, to be admitted to the Official List and to the London
Stock Exchange's market for listed securities. It is expected that admission
will become effective and dealings in the new ordinary shares will commence on
16 May 2007.
Scott Wilson and DCL are already collaborating on active projects and together
will offer a greater range of services to meet the growing demands of our
clients and the regional market.
Geoff French, Chairman of Scott Wilson commented:
"The Group has continued to make excellent progress during the second half of
the year. The recently acquired businesses are integrating and performing very
well. I am delighted that we have been able to announce another acquisition
today. We look forward to the year ahead with confidence."
For further information please contact:
Scott Wilson Group plc www.scottwilson.com
Geoff French, Chairman 01256 310 200
Stephen Kimmett, Finance Director 01256 310200
Lak Siriwardene, Head of Communications 07824 311762
Financial Dynamics
Charlie Armitstead 020 7269 7121
Richard Mountain 020 7269 7121
Scott Wilson Group plc
Scott Wilson is an international consultancy group providing leading,
sustainable, integrated solutions to meet the planning, engineering, management
and environmental needs of four principal market sectors: transportation,
property, environment and natural resources.
Scott Wilson has expanded rapidly over the last few years and has a global
network of 78 offices, of which 39 are in the UK, employing a total of over 5000
members of staff with over 3000 based in the UK. The remainder are mainly
located at Scott Wilson international centres in China, Dubai, Hong Kong, India,
Poland, South Africa and Thailand.
On the 15 March 2006, Scott Wilson Group plc was admitted to the Official List
and to trading on the London Stock Exchange.
Post-flotation, the company has made considerable progress with several high
profile contract wins - the most recent being the East London Line with fees of
£14m. Other wins include: the Edinburgh Airport Rail Link with fees of £18m,
London Crossrail with fees of £12m, Greece Ionian Motorway with fees of £12m and
Bahrain Islands Developments with fees of £10m.
www.scottwilson.com
This information is provided by RNS
The company news service from the London Stock Exchange