LONDON (ShareCast) - Design and engineering consultancy Scott Wilson (LSE: SWG.L - news) said pre-tax profit more than halved and while
it does not expect growth in its UK business it does see further growth in its international markets.
"While we have downsized our business to match capacity, one-off redundancy costs have impacted our full-year performance. However, demand for infrastructure services around the world remains robust, especially in growth regions such as China and India where Scott Wilson has a strong reputation and presence," the group said in a statement.
Pre-tax profit fell to £9.4m for the 53 weeks ended 3 May 2009 from £19.7m the year before. Revenue, including share of joint ventures, rose 11% to £360m.
Adjusted operating profit for the year remained at £22.6m while the total dividend has been increased to 4p from 3.6p.
The group also included an exceptional charge of £7m related to redundancy costs and losses after a project in the Middle East was indefinitely postponed.
"We do not expect growth in our UK business over the next year but we do see significant opportunities for further growth in our international markets," said chairman Geoff French.
Scott Wilson's order book increased to £291m from £280m previously.
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