Toronto-listed engineer adds 2,500 employees through eight acquisitions last year

WSP is targeting growth in the UK this year despite the political uncertainty sparked by last summer’s Brexit vote.

The Toronto-listed engineering giant, which posted revenue and profit growth for the 2016 calendar year yesterday afternoon, said it expects to see growth across both the UK infrastructure and buildings sectors this year.

In a presentation accompanying the results, WSP said: “Despite the political uncertainty related to “Brexit”, government initiatives are anticipated to continue to provide positive momentum for the year; as such, we are anticipating organic growth in net revenues in the mid-single digits for the year.”

In its results, WSP posted a 5% rise in both pre-tax profit (expressed as net earnings) and revenue for 2016 compared to the previous year. Pre-tax profit increased to C$198.7m (£120.8m), up from C$188.6m (£114.7m), while revenue increased 5% to C$6.38bn, up from C$6.06bn.

Alexandre L’Heureux, WSP president and chief executive officer, said the company had produced “solid” results during a “year of change”.

He pointed out it had increased its workforce by 2,500 thanks to eight acquisitions, including that of UK-focussed infrastructure consultant Mouchel in the final quarter of last year. It had also expanded its geographical presence in South America and the Nordics.

WSP will be rebranding its operations throughout 2017, with other brand names including Parsons Brinckerhoff to be ditched.