| WSP Group profits rise |
|
| Monday, 03 March 2008 | |
|
Consultants WSP Group has posted a strong set of full year results with an underlying organic growth in revenues of over 20%. Revenue, including the Group’s share of associated companies and joint ventures, has increased to £577.4m (2006: £449.4m), an increase of 28%, of which 7% arises from acquisitions in the year. The underlying organic growth of 21%, the company says, confirms the progress it has made across broad sectors and geographical reach. Adjusted profit before tax, excluding amortisation of intangible assets arising on business combinations and tax on associated undertakings and joint ventures, was £40.1m (2006: £27.5m), an increase of 46%. The Group’s adjusted profit margin increased from 6.8% to 7.6%. Profit before tax was £37.4m (2006: £26.4m), an increase of 42% and diluted earnings per share increased from 30.4p to 42.3p, an improvement of 39%. The company says that it continues "to follow a strategy of diversification, both in terms of regions and skills, and has completed a series of sensibly priced acquisitions during the year which, together with our ongoing organic growth, ensures the Group is strongly positioned for the future." |



