A TURNAROUND at Acer, the engineering consultancy, was behind a leap in profits at the non-regulated businesses owned by the Welsh water and electricity group Hyder.
Acer swung from a loss before interest and exceptionals of 4.8 million last year to a profit of 1 million in the year to March 31.
Chief executive Graham Hawker said the improvement was due to improving commercial focus and cutting costs. Acers order book is up 15 per cent on a year ago.
The turnaround helped Hyder which was created from the merger of Welsh Water and Swalec push up profits at its unregulated businesses to 9.8 million from 1.5 million last time.
Mr Hawker said the firms electrical contracting arm Celtic Contracting made an operating profit of around 2 million.