WSP trading update: mood is bouyant

Consultancy group WSP remains wonderfully buoyant as it continues to deliver good financial results.

In a trading statement today, covering the third quarter of the financial year, WSP reports that all of its global regions are “at or ahead of target” and as a result, the board is confident that performance for the year will meet their expectations.  

Overseas

Organic growth is continuing to drive their business, aided by WSP’s strategy of diversification.

Acquisitions made in 2007 have continued to deliver “excellent results” and their integration continues.

Public sector work in Sweden remains strong.

UK

Certain areas of the private sector, such as the commercial and retail markets, are challenging.

“We have taken action to match costs with revenue,” says the group, “which among other things has involved facilitating staff transfers to emerging markets where we have been extremely successful in winning very substantial and long term international projects.” 

A refinancing move has provided WSP with a committed credit line for the next five years of £150m from four substantial banks that will support working capital requirements.