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Weeks

Companies: WGP   
25/07/2000

Engineering consultancy Weeks announced encouraging results for the year to 31 March 2000. Pre-tax profit rose to £786,000 (£665,000) despite the fact that turnover fell by 4% to £15.3m (£16m). The fall in sales is due to the company withdrawing from less profitable areas of the marketplace. Debtor and work in progress levels were reduced significantly throughout the year, enabling a reduced gearing of 7% (38%). The group has initiated a restructuring of its management team and a separation of the consultancy and laboratories businesses. Profits this year should be boosted by the acquisition of Taurus Design, which was completed in May. This venture is expected to expand the group's capabilities in the booming housing sector. Another positive development is the five year partnership that has been set in motion between Royal & Sun Alliance and Weeks Laboratories.

Market cap: £6.1m
PE Average: 24.74
PE Forecast: n/a
PE Historic: 12.4
Share price: 4p

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