WSP reports orderbook up by a third to £940m

WSP, the consultancy group, has enjoyed a leap in its forward orderbook to £940m. The latest financial results show that WSP achieved a healthy £37m pre-tax profit during 2007.

Turnover in the 12 months to 31 December 2007 was 28% higher at £580m. The latest profit figure represents a 42% improvement on the previous year’s figure of £26m.

Christopher Cole, chief executive, said: “We have completed the third year of our five-year strategic plan and have again exceeded the primary financial, operational and diversification objectives.

“We exceeded the annual target of 15% revenue growth and a 0.5% profit margin growth and are optimistic of reaching a sustainable profit margin of at least 8%.

“Our acquisition strategy has allowed up to enter new regions, in particular Germany and Australia, with expansion into new sectors, including industrial process engineering in the UK and China, and transportation and bridge inspection in the USA.

“The acquisitions completed in 2007 have annualised revenues of over £100m and are integrating well.

“This year we will be extending our five-year plan to ensure stakeholders are clear on our medium-term objectives.”

WSP now employs 9,400 staff in over 35 countries.

The workload generated by the group’s three operating divisions was:

• £310m – Property
• £140m – Transport & Infrastructure
• £80m – Environment & Energy

The principal acquisitions in 2007 were:

• Entec: South Africa (marine)
• LC Consulting: South Africa (structural)
• WS & B: South Africa (refrigeration)
• Fitzwalter: Australia (environmental)
• Lincolne Scott: Australia (green buildings)
• Chas H Sells: USA (transport & infrastructure)
• CBP: Germany (design & project management)
• SEi: USA (building services)
• CEL International: UK(industrial process)