Shares in consultant engineer wyg (WYG) have drifted downwards since the start of the year but a bullish update changed all that, sending the shares up 7 per cent. Wyg said that results for the full year to 31 March would be around 10 per cent ahead of current market expectations due to a, "considerable improvement in margins" and continued UK economic recovery.
IC TIP:
Buy
at
106p
Broker N+1 Singer said the update confirmed positive momentum in the business and upgraded its full year adjusted pre-tax profit forecast by 11 per cent to £4.2m, giving earnings per share of 3.8p.
