WSP posts strong half-year results

WSP has posted strong revenue and profit growth in first-half results for the six months to 28 June 2014.

The Canada-based engineering giant, which was known as Genivar but took the name of UK-based firm WSP after it acquired it in 2012, posted an 11.9% increase in revenue to C$1,113.6m (£603m) and a 30.2% rise in pre-tax profit to C$54.3m (£29.4m).

WSP – which has been linked with a potential bid to buy Parsons Brinckerhoff – said it was targeting expansion through “organic growth and potential acquisitions”.

Pierre Shoiry, president and chief executive officer of WSP, said: “Looking ahead, we are optimistic about the future trajectory for the business, which should be positively driven by organic growth and potential acquisitions, which we are hopeful, will provide additional expansion opportunities in attractive market segments and geographies.”

WSP completed three acquisitions during the second quarter, including 1,800-strong Alberta-based engineering and geomatics firm Focus Group Holdings, an 100-strong subsidiary of French engineer Technip and Australia-based 50-strong engineer Winward Group.