Multidisciplinary consultant White Young Green has managed to claw back £150,000 of the money it was owed by failed contractor Ballast.
WYG was left £350,000 out of pocket when Ballast went into administration on 15 October last year, but this is now likely to be reduced to £200,000 after talks with the contractors that have taken over some of Ballast's projects.

Ballast was put in administration in October after its Dutch parent decided to halt financial support. This led to lost fees and unpaid bills for many subcontractors.

Chairman Gareth Cooper disclosed this when he announced the firm's interim results this week. He said: "Negotiations are well advanced with the contractors taking over the relevant contracts, for which WYG holds intellectual property rights relating to design."

In the six months to 31 December, WYG made a pre-tax profit of nearly £2.5m, an increase from less than £2.2m in the second half of 2002. Turnover rose £4.3m to more than £40.1m.

Negotiations are well advanced with the contractors taking over the relevant contracts

WYG chairman Gareth Cooper

The dividend payment was increased 7% to 2.2p.