Cyril Sweett Group plc the an international construction and property consultancy providing quantity surveying, project management and management consultancy services, operating in the UK, Europe, Middle East and India, is pleased to report maiden interim results as a publicly listed company on AIM.

We work with and advise government agencies, private sector developers, investors and construction companies, undertaking infrastructure and property projects across a wide range of market sectors.

Highlights

• Performance ahead of last year and in line with expectations;
• Revenue for the period up 23% to £29.3m (2006: £23.8m);
• Operating profit up 26% to £2.61m (2006: £2.07m);
• Pre-tax profit up 23% to £2.52m (2006: £2.04m);
• erating profit margin of 8.9% (2006: 8.7%);
• Net debt reduced in the period by £1.31m to £1.91m (2006: £3.73m);
• Earnings per share up 19% to 3.7p (2006: 3.1p);
• Interim dividend 0.80p per share (2006: 0.90p per share);
• Contracted order book stands at £67m to 2013.
• Listed on AIM on 31 October 2007;
• Placed 9.1 million new ordinary shares at £1.10 per share to raise £10m;
• Over 75% of our employees own shares in the Company;
• Appointment of Nick Woollacott as Non-Executive Director;
• Board confident of outlook for the full year.

Chairman Francis Ives said:

“I am very pleased to announce our first set of results following the AIM listing. Our markets are strong, we continue to maintain our superior margins and we see significant opportunities to extend our activities into new markets overseas. The proceeds from the placing will not only support organic growth but will also give us significant opportunity to extend our growth in the UK and overseas through acquisitions.

Current trading is strong and given our clear growth strategy, our values and strong opportunities in our markets, the Board is confident of the outcome for the full year and beyond.”

I would also like to welcome Nick Woollacott who joined the Board as a Non-Executive Director. Nick’s depth of experience will no doubt support the Company in realising its plans.

Given our strategy, our values and strong opportunities in the market, we anticipate a successful year.