Hyder upbeat thanks to overseas strength

Engineering and design advisor, Hyder Consulting, which has an office in Warrington, said it made a positive start to the financial year.

In an interim management statement for the period from 1 April to 12 July the quoted company said the strength of its Asia Pacific operations and foreign exchange gains had helped it begin the year ahead of expectations.

The statement continued: "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."

Hyder said 80% of operating profits come from overseas and it expects further progress in the rest of the current financial year.

Hyder was owned by Welsh Water in the 1990s but was acquired by its management and listed in 2002.

Shares in Hyder were up 9.5p at 335p by early afternoon Monday.