WSP on target despite challenging markets

WSP Group plc continues to deliver "good financial results with all regions at or ahead of target", according to an interim management statement. The board expects that the performance for the year will meet its expectations.

WSP Group, which provides specialist integrated services to the built and natural environment, earns 50% of its revenues from the public sector. This area "remains strong" particularly in two of WSP's largest global markets, the UK and Sweden, "where we have received many new long term contracts that provide excellent visibility into 2009 and beyond."

Meanwhile, certain areas of the private sector, such as the commercial and retail markets in the UK, are described as "more challenging". The statement says: "We have taken action to match costs with revenue, which among other things has involved facilitating staff transfers to emerging markets where we have been extremely successful in winning very substantial and long term international projects."

"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."

• News release