HYC.L         

Hyder Consulting PLC

Interim Management Statement

Hyder Consulting PLC, the multi-national advisory and design consultancy, today issues its Interim Management Statement which covers the period from 1 April 2010 to 12 July 2010.

We have made a positive start to the year and are pleased to announce trading is slightly ahead of the Board's expectations. This is principally as a result of outperformance by our Asia Pacific operations which benefited from strong sales performance, contract bonuses on project completions and foreign exchange gains.  

The order book has increased slightly since the year end and our bid pipeline is strong. We have implemented cost reductions where necessary, and have improved both our operational efficiency and key account management.  Our cash performance has been better than in the comparative period and we have net cash and unutilised facilities. We are well positioned as government budgets reduce and client expenditure shifts from public to private.

With over 80% of operating profits derived from overseas, and our broad international and market sector base, we are confident of further progress in the current financial year.