Profit slump forces WSP to focus on the private sector

摘要

Profit at structural engineering firm WSP Group almost halved in the first six months of 2011, compared with the same time last year, according to annual results published this week. The firm, which issued a profit warning in June, saw its operating profit slide from £18.3m in the six months to June 2010 to £10. lm for the same period in 2011 in its half-year results. The slump was partly down to the £5.1m write-downs in Libya and the £2.2m cost of restructuring to deal with the cuts in the public sector. The firm said it would continue to diversify, particularly into rail and water projects. The firm's revenue was up 2% to £362.2m in the months to June 2011, compared with the same period in 2010.