Source - SMW
WYG has appointed Douglas McCormick as its incoming CEO, as it posted a FY pretax profit of £1.6m, down from £2.2m.

McCormick would succeed Paul Hamer from June 12, the latter taking up the post of CEO at Sir Robert McAlpine Ltd from July 31.

Looking at the results, WYG's revenue for the year rose to £151.8m, from £133.5m. 

Proposed final dividend was 1.2p a share, taking the total to 1.8p, from 1.5p.

Outgoing CEO Hamer said WYG had delivered a 14% increase in revenue, a 22% increase in adjusted operating profit and a marked improvement in operating cash generation.

He noted that a number of project delays and deferrals in the final quarter meant the company did not quite meet the expectations it had set at the beginning of the year.

"Despite a temporary curtailment in the process of formalising some contractual commitments as a result of the UK General Election, we have started the current year well having already won a significant contract in Africa and places on two major UK frameworks," said Hamer.  

"The opportunities we are seeing in our core consultancy services and international development markets, combined with our initiatives to drive efficiency and resilience across the Group, leave us in a strong position from which to deliver good growth in the current year."