Leeds-based WYG, the international project management consultancy, said on Tuesday its revenue fell to £75.3 million in the “tough” six months ended September 30 compared to £76.2 million for the same period of last year.
Adjusted operating profit before tax edged higher to £1.1 million from £1 million.
WYG’s CEO Douglas McCormick said: “It has been a tough six months but we have delivered results in line with market expectations and we have made substantial progress towards creating a more stable and efficient business platform.
“There remains plenty of scope to build on this platform and to develop our business as the UK government continues to invest in infrastructure, housing, and the defence estate, the prime drivers of our UK business; and, through the UK’s ring-fenced overseas development budget and the commitment of international financial institutions to expand our international business.
“In the past six months I have met a significant number of our clients, completed a second tour of all our major offices and listened to the views of WYG’s highly-skilled staff.
“Their feedback gives me confidence that WYG is a sound business and that we are taking appropriate steps to return it to growth.
“In the near term, we expect a stronger second half, in line with market expectations and consistent with our long-term seasonal trading pattern.”