Member Article

Waterman Group secures £1.5m Bexley infrastructure contract

Waterman Group, the engineering and environmental consultant, has announced two major contract wins - one of which is for a £1.5m project in the London Borough of Bexley, and the other is a £30m AECOM JV with the Midlands Highways Alliances (MHA)..

Waterman’s Infrastructure and Environment team has won an extension of a framework agreement, of up to four years on an annual renewable basis, with the London Borough of Bexley.

The new contract includes provision of traffic and transportation engineering services over and above the current services of civil, highway, bridgeworks, drainage, Construction Design Management Co-ordinators (CDM-C) and staff secondment.

The Infrastructure and Environment team will be supported on the contract by the group’s wholly owned subsidiary Waterman Aspen, which specialises in highway and transportation secondment services.

The framework appointment is estimated to be worth £1.5m to Waterman in its first year.

In addition, AECOM together with Waterman’s transportation outsourcing business has secured a £30 million contract with the Midlands Highway Alliance (MHA).

Under the three-year contract, which has the option to be extended by the MHA by an additional year, AECOM and Waterman will support the 20 local councils on highway projects across the Midlands region.

Nick Taylor, Chief Executive of Waterman commented: “I am delighted that we have won these two significant long-term contracts. As we stated when issuing our Interim Results in February 2015, we are targeting longer term projects and framework agreements as part of improving the Group’s earnings profile.

“ I am also pleased that as we indicated to our shareholders, our Civils and Transportation consulting business is delivering an improving performance during this financial year compared to the comparable period in the previous financial year.

“ Looking ahead, we remain confident about the Group’s prospects. We anticipate continuing revenue growth throughout the UK during 2015, most particularly from retail and residential developments and in the highways infrastructure market.

“The Board believes that the Group remains on track to make significant progress towards delivering the strategic targets of tripling annual adjusted profit before tax to £3.3m over the three year period up to June 2016.”

This was posted in Bdaily's Members' News section by Ellen Forster .