Waterman Group has reported a 9% rise in revenue for the year ended 30 June 2016.

The engineering consultancy revealed its overall revenue increase to £91.3 million in 2016, up from £83.9 million last year.

In addition, profit before tax jumped 50% to £3.6m (£2.7m) while Return on Capital Employed rose to 46.5% from 30.3% in 2015.

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Nick Taylor, Chief Executive, said the company has exceeded its previous three-year targets and is in "excellent shape".

"Over the last three years, the Group has delivered a six times increase in the annual dividend paid to shareholders to 3.0p from 0.5p and during the same period, after paying shareholders dividends of £1.4m, net funds have increased to £5.5m from £1.1m," he said.

"Our future aspiration remains to improve the Group's adjusted operating profit margin towards 6% over the next three years and to continue to increase our dividend payout consistent with the cash generative nature of the business."

(LM)