Hyder looks to nuclear
- Published: 01 December 2008 11:32
- Author: Jessica Rowson
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- Last Updated: 01 December 2008 11:32
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Hyder announced strong half year results last week with revenue up 39% to £151.6M, of which 65% was from overseas and an operating profit up 33% to £8.9M before exceptional items.
UK regional manager Rod Stewart puts the strong results down to a strong international presence
"There's more to the middle east than Dubai and there's lots of activity in the Gulf overall," said Rod Stewart. "Dubai is more susceptible [to the current financial crisis] but they're not turning the tap off overnight."
Hyder are looking towards energy and in particular nuclear as growth areas for the year ahead.
"There has been a strong growth in public transport, renewable energy and nuclear including decommissioning," said Stewart. "We're growing in nuclear. We've just signed an alliance with Bradtec who will be working with us in an exclusive way. They are close to the technology end of decommissioning. They are specialists who understand how to speed the process of making sites safe. We have a new CEO (chief executive officer) Ivor Catto who has a strong background in nuclear and joins us this week."
The agreement with nuclear decommissioning technology specialist Bradtec extends an existing partnership which will be working on a waste-reduction framework for Magnox South, the operator of five nuclear sites currently being decommissioned and a four-year commission from the Nuclear Decommissioning Agency (NDA) on its Direct Research Portfolio (DRP) for waste processing.
