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WSP chief executive Chris Cole has revealed that the 拢700m-turnover structural engineer would be open to a merger deal as well as a series of bolt-on acquisitions.

Cole said expansion remained the key to survival and said WSP had a growth plan to increase the firm鈥檚 turnover to 拢1bn over the next three years.

The news comes as WSP issued a profit warning this week, and follows growing pressure on consultants both to cope with the recession and to expand to compete with larger players. EC Harris last week admitted it had been talking to other companies over a possible merger.

Cole described WSP as 鈥渁 consolidator鈥�. He said: 鈥淭he way we grow is generally through acquisitions. We will continue to grow in this way. When you get to a certain size, you have to find growth. That鈥檚 non-negotiable. You either do it through bolt-on acquisitions or through one transaction - so a consolidation.鈥�

On whether there were any immediate plans in the offing, Cole said WSP was 鈥渁lways in talks with people we might like to consolidate with鈥� but added this didn鈥檛 necessarily mean in relation to a 鈥渕eaningful transaction鈥�.

WSP operates in 35 countries out of 200 offices and relies on overseas work for 70% of its overall turnover. However, following this week鈥檚 profit warning, which included a 拢5m write-off for lost work in Libya, it is to undergo a 拢4m restructure, which Cole said would not alter the group鈥檚 expansion strategy: 鈥淭he minor 10% adjustment to our performance this year relates to the dramatic decline in the available work in transportation in the public sector. Elsewhere within the group we are proceeding in line with expectations. Therefore this temporary, isolated event does not deflect from our group-wide international strategic plan.鈥�

The transport sector accounts for around half of WSP鈥檚 revenue. Formed in 1969, WSP has a strong track record of being acquisitive and it now employs around 10,000 people.