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AGM Statement

11th Sep 2015 07:00

RNS Number : 7564Y
Sweett Group PLC
11 September 2015
 

11 September 2015

Sweett Group plc

("Sweett Group", the "Company" or "the Group")

AGM Statement

At the Company's Annual General Meeting to be held at 10.00 today, John Dodds, Chairman of Sweett Group (AIM:CSG.L), a global provider of professional services for the construction and management of building and infrastructure projects, will make the following statement:

"It is almost exactly a year since I became Chairman and the business has made good progress in that period with a revised strategy and a new CEO, Douglas McCormick, who was appointed in March 2015. Douglas has injected a high level of energy into the business and is proactively moving the Company forward whilst addressing past issues. I am pleased with the appointment of Douglas and with the progress being made.

"Following the review of strategy undertaken by the Board, the key output was to focus on improving the Group's profitability and cash flow and reduce debt through the sale of our APAC and India businesses, which is ongoing. An update on this process will be made when appropriate.

 "The SFO's investigation into matters in the Middle East is also ongoing and we are co-operating fully.

 "Year to date, trading has been sound and we were delighted to have been appointed by Westfield for two major private rental sector residential schemes at Westfield Shepherd's Bush and Stratford; to be working for Illumina on its biomed project; and on a number of industrial projects on behalf of Jaguar Land Rover. The Board expects results for the full year to be in line with market expectations."

 

ENDS

 

For further information, call:

Sweett Group plc:

+44 (0)20 7061 9000

Douglas McCormick, Chief Executive Officer

 

Patrick Sinclair, Chief Financial Officer

 

 

 

Westhouse Securities Limited:

+44 (0)20 7601 6100

Tom Griffiths

 

 

 

Camarco

+44 (0)20 3757 4980

Billy Clegg

 

Georgia Mann

 

 

About Sweett Group

Sweett Group is a global provider of professional services for the construction and management of building and infrastructure projects.

 

We have an integrated network of 58 offices in 18 countries across five continents offering cost consulting and project management. Our service supports clients through every stage of the project life cycle based upon our international expertise and local knowledge. Our strength is our people's world-class talent and expertise through which, we have time and again delivered exceptional results. The strategy builds on these key strengths.

 

A modern, progressive company, Sweett Group sets itself apart through people, culture and aptitude to change. By collaborative practices and innovative thinking - supported at all levels - our clients receive an offering that is constantly evolving and improving in response to project needs.

www.sweettgroup.com

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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