Asia Pac business driving revenue rise at Sweett Group

Strong growth in business in Asia Pacific helped drive up revenue at international property and infrastructure consultancy Sweett Group.

Strong growth in business in Asia Pacific helped drive up revenue at international property and infrastructure consultancy Sweett Group.

In a trading update published in advance of the publication of its preliminary results for the year ended March 31st 2013, the group reported that trading had been "encouraging" and said the board expected results to be in line with market expectations.

Group revenue for the year increased by over 10% from the previous one. The order book was just under £100m as at April 18th 2013, an increase of £12m since April 2012.

The Asia Pacific region remained the group's largest single growth market with revenue in China and South-East Asia up by 15%. During the period, the group capitalised on the construction market in mainland China, as well as securing work in the health, infrastructure and commercial sectors in Hong Kong and South-East Asia.

Commenting on the group's outlook, Dean Webster, Chief Executive Officer, said: "The group will continue to build on the global platform that we have created. Our order book, both internationally and domestically, is seeing encouraging levels of growth."

He added: "Extending our existing service lines across a wider geographic area, our growth in the infrastructure sector and our increasing work for corporate clients all indicate that the business is on an upward path. In the short term we expect better levels of growth to come from our Asian operations, although in the medium term we are cautiously optimistic that all our markets will experience improved levels of activity."

Sweett Group's share price was down 3.70% to 26p at 11:48 on Monday.

MF

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