News on 7 March 2001
WSP’s FM division contributed £5m to the Group’s total turnover of £138m. Led by Marilyn Standley, WSP FM’s growth strategy is to focus on strategic FM, particularly consulting which contributes to the delivery of WSP’s “cradle to grave” service offering.
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| Finance director Malcolm Paul and managing director Chris Cole. |
Finance Director Malcolm Paul, said the FM operation would
not pursue blue collar service management contracts, preferring to concentrate
on adding value where it already has expertise, for example, management
of airport facilities. The company also revealed it had an extensive
amount of prospective FM work.
WSP Group turnover was up 38% to £138m with 70%
derived from property related business, 22% from transport and infrastructure
and 8% from environmental services. Pre-tax profit rose by 35% to £8.7m
and profit after interest but before amortisation of goodwill increased
by 45% to £9.6m.
Trading margin in the property sector was static at 8.8%, up to 5.5%
in transport and infrastructure (4.3% 1999) and 6.7% in environmental
services (5.9% 1999).
The company ruled out taking equity positions in PFI projects, preferring
to use its funds to finance acquisitions. WSP plans to spend around
half its market capitalisation on acquisitions.
