But consultant warns of coming impact from market uncertainties in UK and Dubai

Consultant WSP today warned that the market remains “uncertain” as problems in the UK and Dubai take their toll, but said it was trading in line with expectations.

In a statement to the stock market, the firm said it expects to spend £4m on reorganisation in the first half of the year as it moves to “match costs with revenue”, principally in the UK and the Middle East.

The market in Dubai is “reduced” and funding issues in the emirate remain “unresolved”, it said.

Dubai
The firm has been affected by a downturn in the Dubai market

Net bank debt has increased since the year end because of normal phasing of the business cycle and the impact of slower client payments, but the group remains “well financed”, it added.

But WSP said that public sector work in Europe was performing well and its transport and infrastructure business was benefiting from contract wins last year.

The statement said: “Despite challenging markets, the board remains confident that the group's diversification, resilience and experienced management will ensure that it remains well positioned for the current environment and to take advantage when markets improve.”