Global engineer’s profit down 2%, but turnover rises marginally

Global engineer WSP has posted solid results for the year ended December 2011, with a marginal rise in turnover.

Turnover at the group rose from £706.9m in 2010 to £713.3m last year, while profit dropped 2% from £19.2m to £18.9m.

Chairman Ian Barlow said: “We expect market conditions to remain unchanged and our task is to exploit our global reach to deliver growth and to continue to drive more efficient margins and better cash generation.

“We have repositioned our strategy … recognising the reality of tighter markets since it was launched in 2010.

“This provides the basis for the group to improve its performance and grow organically although we remain alert to corporate opportunities.”