hyder consulting profit growth continues
Middle East operations contribute to overall growth
Hyder Consulting PLC, the award-winning engineering, environmental, planning and management consultancy, recently announced its adjusted operating profits have advanced by 36% to £11.4 million (AED 82 million). Revenue was up 19% to £203.1 million (AED 1.5 billion) while the operating profit reached £14.3m (AED 103.5 million), a staggering 47% increase from last year’s results.
Chief Executive, Tim Wade, commented: “I am pleased to report another excellent year with results well ahead of last year. Our strategy for increasing the management and advisory services part of the business has delivered a further significant increase in operating margin.”
That strategy, aimed at increasing Hyder Consulting’s involvement in the early stages of projects, was reflected in the £9 million (AED 66 million) spent on three acquisitions during the year – Hong Kong based master planning, urban design and landscape architecture firm, ACLA, which also has an office in Dubai; UK ecological consultancy, Cresswell Associates; and German transportation specialist, Munnich Projekt. Since the end of March, the company has also acquired UK cost and project management consultancy, RPA Quantity Surveyors.
Overall, staff numbers during the year grew from around 3,400 to 4,000 internationally. In the Middle East alone, Hyder Consulting employs 25% of total global staff, with over 1,000 employees distributed across its offices in the Gulf region.
Contributing to Hyder Consulting’s growth, the largest projects in the property sector inevitably came from the Middle East region, including the world’s tallest structure, the Burj Dubai, on which Hyder Consulting is lead consultant, and Architect / Engineer of Record to the UAE Authorities. The company is also responsible for the design and supervision of the new Doha Convention Centre and Tower in Qatar.
The scale of its international operations earned Hyder Consulting the ‘International Firm of the Year’ accolade in the Consultant of the Year Awards 2007. Tim Wade noted: “Winning this award was an excellent way to kick off our 150th anniversary year in 2007 and to recognise a heritage of international projects that includes Tower Bridge, Sydney Harbour Bridge, the Hong Kong Mass Transit System and Emirates Towers.”
Hyder Consulting has been present in the Middle East for over 45 years and has offices spanning the UAE, Qatar and Bahrain applying global expertise and resources to deliver world class tailored solutions to local markets. Involved in some of the region’s most prestigious projects which include the Burj Dubai, City of Arabia, Ski Dubai and Emirates Towers in Dubai, and numerous projects on Reem Island in Abu Dhabi, Hyder Consulting is also working on several mega projects across the Middle East including Al Areen Resort & Spa in Bahrain and Lusail Development in Qatar. Large transport commissions carried out directly for Bahrain Ministry for Works and Housing in Bahrain include North Manama Causeway, the new Dry Dock Highway, and King Faisail Highway. In addition, Hyder Consulting has been appointed technical advisor for a water PPP (Public Private Partnership) project in Jeddah, Saudi Arabia.
