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锘縋rofit 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 拢18.3m in the six months to June 2010 to 拢10.1m for the same period in 2011 in its half-year results.

The slump was partly down to the 拢5.1m write-downs in Libya and the 拢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鈥檚 revenue was up 2% to 拢362.2m in the months to June 2011, compared with the same period in 2010.

Chief executive Chris Cole said WSP would concentrate on more private sector work in the UK. He said: 鈥淲e are currently 50-50 private and public and would expect to move to a two-thirds, one-third split in a year鈥檚 time. We have a strong heritage in the private sector, so we are in a good position to win work in an improving market.

WSP鈥檚 property divisions performed best, with a 拢13.8m increase in revenue, while transport did worst, with a fall of 拢8.5m. The firm also said its strength in Sweden would help
it in future. Cole said he planned to boost staff numbers there by 20% to 2015, to become the largest consultant in the country, overtaking the current biggest firm Sweco.

Cole said he expected profits for 2012 to return to 2010 levels, which were 拢18.3m for the first half of the year.