White Young Green reaps reward of rapid expansion

White Young Green (WYG), the rapidly growing consultancy group, has unveiled an interim pre-tax profit of £5.3m.

The figure would have been £1.6m higher but for the amortisation cost of the goodwill triggered by WYG's string of recent acquisitions.

Turnover (six months to 31 December 2006) of £100m was well ahead of the figure of £80m in the comparable period of the previous year when pre-tax profit was also £5.3m.

Chief executive John Purvis said: "I am delighted to report an excellent set of results. The acquisitions completed in the second half of the last financial year have all contributed strongly, in line with expectations, and their integration is progressing well."

Net debt stood at £43m at the end of the period, well up on the figure of £18m at the end of 2005, resulting in a gearing [ratio of debt to assets] of 52% (32%).

WYG raised its borrowing facility this month, the result being that the upper limit has been increased from £52m to £100m and with an extension to February 2012.