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Who we are

Consultancy Services

Creating value from and managing strategic assets by engaging with clients in the early stages of a project, and often continuing to advise them

throughout its lifecycle

International Development

Undertaking ambitious long term international development projects that make a positive impact

on infrastructure, socio-economic growth andthe environment

Create value, protect value, manage risk

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Highlights

Group Revenue *

£151.8m+ 14%

2016: £133.5m

Profit before tax**

£8.2m+ 17%

2016: £7.0m

Order book

£145.0m+ 1.4%

March 2016*** £143.0m

Operating cashflow**

£8.4m

2016: £2.4m

* Including revenue from Joint Ventures** Before separately disclosed items*** Restated to exclude impact of Poland adjustments

New post-year end wins announced

£50m

Strong growth delivered albeit

held back by slower than

expected Q4 in the UK

Final dividend

1.2p+ 20% (2016: 1.0p)

Total dividend

1.8p+ 20% (2016: 1.5p)

Restructured and de-risked Polish business c.£3m

impact

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Consolidated income statement

• 14% growth in revenue

• £1.6m increase in operating profit year on year

• Increase in finance costs reflect utilisation of new facility

• Tax driven by positive tax position in UK and prior year tax credits

• Adjusted EPS based on 72.7m shares

* Including revenue from Joint Ventures** Before separately disclosed items

£’m 2017 2016

Revenue* 151.8 133.5

Operating profit** 8.8 7.2

Finance costs (0.6) (0.2)

Profit before tax** 8.2 7.0

Tax** 0.4 0.0

Profit after tax** 8.6 7.0

Adjusted diluted earnings per share 11.9p 9.8p

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Consolidated balance sheet

• Debtors and WIP increase due to higher revenues and Euro impact. Working capital days reduced to 78 reflecting better collections

• Creditors increase due to pick up in activity offset by reduced taxation balances and acquisition balances

• £2.7m decrease in legacy provisions

• Total net debt of £2.5m after the application of £4.7m on legacy and restructuring costs, £2.3m on acquisitions and dividend payments of £0.7m

£’m 31 Mar 2017 31 Mar 2016

Goodwill 18.2 18.2

Fixed assets 11.1 12.9

Debtors, WIP less fees in advance 47.5 40.9

Creditors (39.5) (38.0)

Legacy provisions (3.2) (5.9)

Total net debt/(cash) (2.5) 0.2

Shareholders’ funds 31.6 28.3

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Consolidated cash flow statement

£’m 2017 2016

Operating profit (before separately disclosed items) 8.8 7.2

Depreciation and amortisation 1.9 1.9

Movement in working capital (2.3) (6.7)

Operating cash flow 8.4 2.4

Interest and tax (1.5) (0.5)

Capex (1.9) (2.5)

Cash flow before legacy issues and acquisitions 5.0 (0.6)

Legacy cash costs (4.7) (2.8)

Cash flow before acquisitions and dividends 0.3 (3.4)

Acquisitions and disposals (2.3) (7.9)

Dividends and share related transactions (0.7) (0.8)

Net cash flow (2.7) (12.1)

• Cash inflow before acquisitions and dividends driven by:

– Strong development in operating profit

– Investment in Capex in line with depreciation

– Controlled investment in working capital

– Interest and tax increasing in line with expectations

– Legacy cash cost increases due to PII settlements and Group wide restructuring

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Guidance

Operating marginOperational gearing and mix, with focus on quality revenues should improve underlying margins by c.1-2%

Separately disclosed items

Significantly lower costs expected in FY18

Interest costs Expected to be consistent with FY17

Tax Blended rate of c.10% expected with ongoing benefit of UK tax losses

CapexHigher level than FY17 expected as we invest in our infrastructure of office accommodation and IT

Debtor & WIP days 78 days at 31 March 2017 expected to stay around this level

Deferred considerationDeferred consideration on acquisitions expected to be less than £1m in FY18

Cash flows We expect to be cash generative prior to any acquisition expenditure

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A strong underpin to the current year

Contracted order book summary

* Restated to exclude impact of Poland closures

Will be boosted by recently announced wins of c£50m, with c£15m to be delivered in the current year

Post Brexit EU wins total €29m

Total order book For delivery in current year Beyond current year

£’m 31 Mar 2017 31 Mar 2016 31 Mar 2017 31 Mar 2016* 31 Mar 2017 31 Mar 2016*

UK 82 79 48 52 34 27

EAA 46 40 22 26 24 14

MENA 17 24 14 17 3 7

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UK – strong performance impacted only by Q4 slowdown

• 71% of Group revenue

• Invested in people, technology and infrastructure in anticipation of strong Q4 trading

• Deferrals and delays on new contracts, particularly in higher margin areas, led to weaker than anticipated profit performance

• No material project cancellations

• Strong start since the year end:– Won places on all 3 lots of the delayed Crown Commercial Service’s £2.9bn consultancy framework

– Won Central & Southern regions in UK MoD’s revised PSP framework for DIO

– Above wins fuel in-year growth – expected to deliver £10m+ revenue in each of the next two years

* Before separately disclosed items

£’m 2017 2016

Revenue 107.6 96.3

Operating profit* 9.1 10.3

Operating margin* 8.4% 10.7%

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EAA – good performance; Polish operations de-risked

• 13% of Group Revenue

• Improved performance across Africa and a strong performance in SEE

• Built on our position in managing EU funds

• Expanded our work with UK HMG in Africa and Asia– DFID – CRIDF 2

– FCO – Further awards imminent

• Restructured and de-risked the Polish business– Shift to regional funding made returns unattractive

– De-risked following ongoing turbulence in nuclear new-build

* Before separately disclosed items** Including share of Joint Venture revenues

£’m 2017 2016

Revenue** 20.5 23.9

Operating profit* 1.0 0.7

Operating margin* 5.0% 2.8%

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MENA – excellent performance; progress diversifying the

business

• 16% of Group Revenue

• Revenue up c.80% as record opening order book was converted

• Strong profit performance - operational gearing and higher than expected project margins

• Successfully building a broader MENA business – wins in Lebanon, Bahrain, Oman and Saudi – Won a €3.6m project to assist the reform of Lebanon's National Social Security Fund, expanding the reach of the business in

the Middle East

* Before separately disclosed items

£’m 2017 2016

Revenue 23.7 13.2

Operating profit* 3.0 0.3

Operating margin* 12.6% 2.0%

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Current Risks and Opportunities

UK election Long term drivers intact:• Major infrastructure• Housing needs• Strategic assets

Brexit

Turkey’s future

UK commitment to aid spendingAll parties committed to spending 0.7% of GDP on aid

Broadening agenda for Aid for Trade

New awards continue to flow and good near term pipeline

Turkey critical to East/West relations

Kingmaker in managing the flow of refugees into the EU

Using our success in Turkey as a launch pad for building a broader and sustainable MENA business

Positive backdrop since the vote; no material impact on financial performance but continuing to keep under reviewSecured €29m of new EU projects since Brexit

Local offices continue to win work within major EU funds

Medium term review of a core EU-country merger/acquisition

Recent scrutiny of DFID consultants’ roles/wider FCO involvement creating significant opportunities for WYG

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Key areas of focus

Improving agility

Building resilience&

Maximising efficiency

• Deepening and diversifying key client relationships in a dynamic global market and political environment

• Broadening our MENA business• Focused and selective investment and prudent exit from lower

returns activities e.g. Polish technical services, nuclear new build• Streamlined office footprint• Harnessing technology to drive efficiency

• Shaping for growth: move to 2 global business streams• Strengthened the senior team:

• Jeanne Townend (MD Consulting Services)• Jesper Damgaard (MD International Development)

• Key Drivers of growth:• Aid for Trade• Supporting UK HMG• Favourable economic conditions

Harnessing our specialist skills to create value, protect value and manage risk for our clients

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Summary

• Trading in current year in line with expectations

• Delivering significant revenue and profit growth

• Improved operating cash generation/conversion

• Strengthened operational management team to drive opportunities from new, more agile structure

• Deepening relationships with key HMG clients

• Driving efficiencies and focussed on matching resource to opportunities

• Pursuing strong growth drivers

Good fundamentals to underpin five year growth strategy

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Appendices

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Shareholders

%

Slater Investments 13.7

Hargreave Hale 11.5

Robert Keith 10.5

Franklin Templeton Fund Management 9.7

Majedie Asset Management 6.8

Henderson Global Investors 6.6

River & Mercantile Asset Management 6.4

Axa Framlington Investment Managers 5.7

Miton Asset Management 5.7

Lombard Odier Investment Management 4.2

UBS Collateral Account 3.4

Others 15.8

Cumulative %

13.7

25.2

35.7

45.4

52.2

58.5

65.2

70.9

76.6

80.8

84.2

100

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The team

Paul Hamer, Chief Executive OfficerAppointed Chief Executive in March 2009

Previously Managing Director of VT Nuclear Services, part of Babcock International, and brings with him over 20 years’ experience in business management, leadership and project delivery.

Held several senior executive positions in the contracting, nuclear, oil, chemical and petrochemical sectors.

Chairman of Green Economy Panel, Leeds City Region LEP

Iain Clarkson, Chief Financial OfficerJoined WYG in June 2016

Formerly Finance Director of AMEC Foster Wheeler’s Clean Energy Europe business.

25 years’ experience of financial and commercial management, primarily in the energy sector.

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Management incentive schemes

Short-Term Incentive Plan (STIP)

• Annual bonus scheme for most senior executives comprising cash, deferred cash and shares

• Targets not met for FY17

• Stretching PBT, cash, revenue and orderbook targets in FY18

Performance Share Plan (PSP)

• Senior executives and leadership team

• 3 years EPS and TSR targets split 50:50

• At the end of Year 2 on target to deliver 100% on EPS; TSR 88.5% in FY16, 30% in FY17

Restricted Share Plan (RSP)

• Specific core employees

• Retention incentive: 3 year vesting

• No targets save continued employment

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Key financial metrics

Area 2017 2016 Comment

Revenue growth +14% +2% Strong revenue growth, particularly in the UK and MENA

Profit before tax £8.2m £7.0m 17% increase in PBT driven by revenue growth and improvements in profitability in our International Businesses

Earnings per share (adjusted and diluted)

11.9p 9.8p 21% growth in diluted EPS, driven by strong profits and tax credits

Working capital days 78 81 Some reduction as collections improve and we complete certain large projects in Turkey

12 month operating cash flow

£8.4m £2.4m Improving operating cash flows due to increasing profit and controlled investment in working capital

Like for like order book £145m £143m Order book maintained, despite 14% increase in Revenues. Growth in order book post year end due to recently announced wins

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2017 Actuals – Existing to New Structure

OLD FY 2017 UK CEE Russia MENA

ARM & SEE

NEW FY 2017

£'000s £'000s £'000s £'000s £'000s £'000s £'000s

RevenueUK 107,595 (107,595) 0

EAA 20,469 (6,887) (1,284) (12,298) 0

MENA 23,760 (23,760) 0

CS 107,595 6,887 1,284 115,766 CS

IDB 23,760 12,298 36,058 IDB

151,824 0 0 0 0 151,824

Operating ProfitUK 9,056 (9,056) 0

EAA 1,020 871 (198) (1,693) 0

MENA 2,984 (2,984) 0

CS 9,056 (871) 198 8,383 CS

IDB 2,984 1,693 4,677 IDB

13,060 0 0 0 0 0 13,060

Overheads (4,292) (4,292)

Operating profit 8,768 0 0 0 0 0 8,768

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