Waterman Group trades in line in first half

Engineering and environmental consultancy Waterman Group released a trading update on Monday, ahead of the announcement of its interim results for the half-year to 31 December.

The London-listed company said it has experienced a “positive interim trading period”, and the board expected to report interim results consistent with market forecasts for the year as a whole, with revenue, profit and operating margin percentage generally in line with the prior year comparable period.

It said a continuing emphasis on working capital management resulted in the group expecting to report net funds at period end of £6.7m - up from £5.5m at 30 June, and £6.6m at 31 December 2015.

“As previously noted in the chairman's statement in the 2016 Annual Report, the board's aspiration is to continue to increase dividends payable to shareholders consistent with the cash generative nature of our business,” Waterman’s board said in a statement.

“We expect to declare an increased interim dividend consistent with this aspiration.”

The group said it will report its interim results on 28 February.