WSP looks overseas as profits slip

Announcing pre-tax profits of £18.9m for 2011, slightly down from £19.2m the previous year, the firm said a slowdown in infrastructure and transport projects in the UK had dragged down its results.

 “The markets for design and project management continue to be challenging, with limited opportunities in the UK, although we see some opportunity for growth overseas,” WSP said. “There is also little appetite at present to use the PFI model to which many of our support services in this area of business were linked.”

Profit at the firm’s transport and infrastructure business dropped nearly £5m over the year, to £8m.

“In transport and infrastructure most of our activities in the UK, in particular the roads market, have been very subdued,” the firm added.