Work on large urban regeneration schemes helps Waterman offset lower demand in commercial sector.

Multidisciplinary consultany Waterman has posted an increase in pre-tax profit of 5% despite lower demand in its core commercial market.

Work on major regeneration projects such as the White City Development in London and Paradise Street in Liverpool helped lift pre-tax profit to £2m on a turnover of £65m for the year ended June 2004.

The firm is optimistic that a growing demand for pre-planning services in the London commercial sector will enable it take advantage of the market as it recovers.

Waterman also hopes to win work in large construction markets overseas and as a result has opened offices in Dubai and China.

Bob Campbell, managing director said: 'We are pleased to deliver this solid set of results. Our markets remain challenging, but we are making good progress.”

“The group’s strong balance sheet and excellent long-term order book give us confidence for the future”.