White Young Green enjoys 28% jump in turnover

White Young Green, the fast-growing consultancy group, has lifted its annual turnover by 28% to £280m.

Acquisitions during the financial year (12 months to 30 June 2008) accounted for £22m of the £60m rise in turnover.

Pre-tax profit was higher at £17m (comparable figure in previous year: £13m).

WYG’s three acquisitions in the first half of the year cost £34m.

The group now has a goodwill figure on its books of £116m. Goodwill accounts for all but £4m of the group’s net assets which stand at £120m.

In June, WYG announced that it had received an unsolicited approach that “may or may not have led to an offer being made”, but two months later discussions melted away. The talking triggered one-off costs of £300,000.

WYG has a staff of 3,400 in offices around the world though the UK accounts for 63% of turnover.

Net debt stands at £68m, up by £23m on the year. WGY has banking facilities of £112m which are secured until 2012.

The orderbook stands at a record £400m of which 51% is represented by long-term framework agreements.