WYG’s interims make reassuring reading this morning, confirming a stable performance in H1 and reiterating full year expectations. Consultancy Services has reported modest revenue growth and, importantly, an improvement in margins as a result of recent strategic initiatives. As a result Group operating profit increased slightly in H1 despite a decline in International Development (Turkey/IPA II hiatus). We see considerable scope for further margin enhancement over coming periods alongside improved cash generation, a key management priority.
