WSP Group Plc <WSPG.L>, a British building and environmental consultancy, posted a 23 percent fall in first-half adjusted pretax profit but maintained its interim dividend and said the order book exceeded 1 billion pounds ($1.64 billion) in June.
The group, which offers management, planning and environmental advice, said it was well placed to trade through the current economic environment. The company said it was 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 U.S., WSP Group said. For the six months ended on June 30, profit before tax and exceptional items was 17.7 million pounds, compared with 23 million pounds a year ago, WSP Group said. Revenue rose 4 percent to 376.9 million pounds.
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.
WSP Group shares closed at 244.75 pence on Friday on the London Stock Exchange. ($1=.6083 Pound)
* H1 adj pretax profit 17.7 mln stg vs 23 mln stg
* H1 rev up 4 pct at 376.9 mln stg
* Maintains interim dividend at 5p/shr
* Order book tops 1 bln stg at June-end
* Says well placed to trade through current environment
(Adds details)
July 27 (Reuters) – WSP Group Plc <WSPG.L>, a British building and environmental consultancy, posted a 23 percent fall in first-half adjusted pretax profit but maintained its interim dividend and said the order book exceeded 1 billion pounds ($1.64 billion) in June.
The group, which offers management, planning and environmental advice, said it was well placed to trade through the current economic environment.
The company said it was 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 U.S., WSP Group said.
For the six months ended on June 30, profit before tax and exceptional items was 17.7 million pounds, compared with 23 million pounds a year ago, WSP Group said.
Revenue rose 4 percent to 376.9 million pounds.
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.
WSP Group shares closed at 244.75 pence on Friday on the London Stock Exchange. ($1=.6083 Pound)
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