WSP profits dive as 1,000 staff shed

Consultant WSP has posted a 23% fall in first-half adjusted pretax profit as staff numbers across the globe dropped by 1,000 to 9,000.

The group said it was well placed to trade through the current economic environment after seeing a high level of bidding activity in the wider Middle East and North Africa region with some significant project wins.

"Whilst these remain competitive and can be slow to progress we see our expansion in the region continuing," the company said in a statement.

"The first half of 2009 has seen a strong performance in our public sector activities with a corresponding deterioration in most markets in the private sector," it said.

Northern Europe continues to perform well and it does not see any immediate change to the difficult private sector in the UK and the US, WSP Group said.

For the six months ended on June 30, profit before tax and exceptional items was £17.7m compared with £23m a year ago, WSP Group said. Revenue rose 4% £376.9m.

The company said worldwide staff numbers were around 9,000 compared with over 10,000 at the end of last year due to material reductions in the UK private sector and the Middle East.