WSP chief executive Chris Cole has ruled out an acquisition in the near future because of the group’s falling share price.
WSP, like other support services sector firms, has seen its shares fall dramatically this year. The price dropped from a year high of 355p to below 120p this week. Cole said this had made any deals unlikely.

“Our share price makes any acquisition very difficult – the falls have taken the firepower out of our ability to do that,” Cole said.

He also denied speculation that WSP was looking to buy a quantity surveying practice as rivals Atkins and Mott MacDonald have done this year.

WSP’s pre-tax profit for the six months to 30 June rose marginally from £6.4m to £6.5m. Turnover increased 44% to £138.2m over the same period.