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Waterman issues downbeat management statement

With its year-end approaching, the multidiscpline engineering and environmental consultancy has issued an interim management statement emphasising the “extremely difficult and challenging trading conditions” it faces.

28-May-09  In a statement released on 18 May, Waterman said “it is currently trading at the lower end of the Board’s expectations”. In addition, it expects to end the year with exceptional costs related to bad debts and a “work in progress impairment”. Cash collection is proving difficult for many consultancies operating internationally, especially those in Dubai (Environment Analyst, 20-May-09). Waterman notes that trading...