Hydro International Plc (HYD.L) said the trading environment has remained challenging through the early part of 2012, which has resulted in delays in the timing of some projects. Consequently, the company expects the first half performance to be lower than the record performance set in 2011, and the full year results to be significantly weighted towards the second half of the year.
The company stated that new enquiry levels remain buoyant and although much still needs to be done the pipeline of potential opportunities is strong. According to Hydro International, UK Wastewater business has seen an increase in activity in 2012. In addition to the ongoing delivery of major sludge scraper contracts for Thames Water, the division has secured a number of key contracts from water companies under the AMP5 asset management programme.
Hydro International further noted that in the UK, trading, which is closely aligned to new-build construction activity, is showing signs of stepping back as both public and private sector investment levels are being impacted.
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