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WSP confident ahead of year end

Consultant WSP Group has said it is confident that it will meet its expectations for the year, in a trading statement today.

In its interim management statement the firm said it ‘continues to deliver good financial results with all regions at or ahead of target’.

The business has been buoyed by organic growth in several countries and acquisitions made in 2007 are performing well during integration into the group.

Public sector work which brings in around 50 per cent of its total revenue remains strong particularly in UK and Sweden but areas of private sector work, such as the commercial and retail markets in the UK, are more challenging.

The firm said: “The refinancing of the Group at the beginning of this year provided a committed credit line for the next five years of £150 million from four substantial banks that will support our working capital requirements and ensure we are well placed for the future.

“We remain vigilant to the uncertainties created by the global economic downturn however we are confident that our unique spread of services across many different markets will underpin the Group's future performance.”